Friday, October 12, 2007

Bad News For The Record Industry

This has been a noteworthy week for the future of the music business. It began when Radiohead released their latest album, "In Rainbows," as a "pay-what-you-wish" digital download. The catch, of course, is that they are no longer affiliated with a record label. Rumor has it they had more than 1 million downloads, and took in a fairly good profit as well!

The same day, rumors surfaced that Oasis and Jamiroquai were considering a similar move.

Now, it looks like Madonna might be thinking about jumping ship from Warner to sign a record/touring/merchandise deal with concert promoter Live Nation, a company which has never been in the record business prior to this.

Of course, the labels have been watching all of this like hawks, as evidenced by this leaked memo from EMI Records.

Things aren't looking so good for our friends at the record labels. Of course, it's tough to feel sorry for them when they are spending their time suing Native American single mothers who make $36,000 a year!
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