Word: recordability
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...record labels screwed themselves: "After almost eight years of stonewalling MP3s and Napster, major label employees gradually accepted the fact that freely selling digital music was the blueprint for survival. EMI's decision to sell MP3s was a step in this direction - as would be Amazon's MP3 store, MySpace Music, and the Radiohead model of giving away music online. But labels were still a long way from overcoming their outdated ideas. They clung stubbornly to long held beliefs that selling millions of pieces of plastic would return them to massive profits...
...music industry in the '80s. Technology also destroyed it less than 20 years later. The advent of file sharing programs like Napster, the industy's refusal to adopt new distribution methods, free-spending executives, the shrinking of radio and the increasing power of big-box retailers over devoted record stores - all have led to the present situation, where many consumers would rather steal music than pay for it. Knopper's analysis of the situation is pretty insular, however. Rather than attempting to draw parallels between music and other entertainment industries that have been rocked by the Internet - and explain...
...book ping-pongs between a series of miniature, magazine-like profiles and intricate accounts of lawsuits and record company financial transactions. That's fine if you're dying to get the nitty-gritty on the rise and fall of Napster, or the way that Apple grew to dominate the music industry (both well-trod stories at any rate). but if you're looking for some novel conclusions or recommendations as to how the music industry can save itself, you might need to wait for Knopper's next book...
Apple reported record quarterly earnings today, up 1.5%, with iPods setting a new sales record and the company predicting a relatively bright future. Sales of the all-important iPhone, at 4.4 million units, were lower than analysts had anticipated...
...beginning of the bill, the authors write: "Since 2001, as worker productivity went up, 96% of the income growth in this country went to the wealthiest 10% of society. While they were benefiting from record high worker productivity, the remaining 90% of Americans were struggling to sustain their standard of living. They sustained it by borrowing ... and borrowing ... and borrowing, and when they couldn't borrow anymore, the bottom fell...