'The Year the (Music) Industry Broke'

Through the past 10 or so years (the evolving state of the internet), we have witnessed record labels lose money at an alarming rate. Music is easily downloadable, relatively easy to steal online using bit torrent sites and consumers are buying fewer and fewer compact discs year-to-year.

This isn't surprising to me. Although I still maintain I'm a CD believer, I understand why records sales are declining. Welcome to the age of all for nothing. Although I blame MTV much for the downfall of music sales and music in general (more shows than videos), they posted a pretty good article describing 2007 here.

Here's the key budding musicians (if you want to make money, take note): Tour, tour, tour. No-one can steal a live concert, ticketholders are charged heavily (to the benefit of you and Ticketmaster) and with better recording tools you can record your next album (which will be stolen anyway online) for very little.