Word: lps
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Dates: during 1990-1999
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...composition by a particular pianist, and he will rattle off all the details: the record label, the date and place of the recording, possibly even the precise microphone placement for the session. It's also likely that the recording will be in Deacon's personal collection of 25,000 LPs and 10,000 CDs. So when Philips decided to anthologize the work of this century's finest pianists, Deacon was a natural for the job of executive producer of the series...
...course, the boom years of the 1980s--when music lovers were replacing their LPs with CDs--are over. Classical sales have declined from 10% of the record market to about 5% now. To turn a penny, most record companies have halved their output of new classical recordings; instead, the buzz word in the business these days is compilations...
...even how much we pay for the privilege. Philips Electronics is selling a music CD recorder for about $600 that lets you copy an entire CD (or any other album) onto a new CD, produce your own greatest-hits collections from several albums or just bring those old LPs and cassette tapes into the digital age. Pioneer and Marantz will begin selling similar recorders this summer. Sony and Sharp are spearheading an effort to revive the MiniDisc format, which records digital music onto tiny discs inside cartridges smaller than a Post-it note. Then there's the wild card...
...people who produce and sell the music. "The music industry is still much closer to its artists than to its customers," says Paco Underhill of Envirosell Inc., a consumer-behavior research firm in New York City. Record companies, he observes, sell CDs exactly the same way they sold LPs: as one-size-fits-all package deals. Meanwhile, consumers with shrinking leisure hours and attention spans are demanding that their music be portable and personalized or at least varied. Movie sound tracks like the one from Titanic, for example, are scoring big, while such unlikely music retailers as Starbucks...
...lovers of the wired generation may demand it. "Kids prize their computers more than their stereos," says Wendy Hafner, director of music marketing at Intel. Record companies "would have to be crazy not to take advantage of that," she says. Baby boomers who came of age transferring songs from LPs to cassettes--often in various kinds of smoke-filled rooms--can think of it as the '90s version of rolling your...