Finally, the Real Reason CD Sales Are Falling
For years, the representatives of the recording companies have issued predictions of doom and gloom for their own industry. Since suing Napster in 1999 they have fretted over copyright infringement and piracy. According to the RIAA, file sharing costs the industry $4.2 billion per year.
But now CD music sales are down 20% from 2006. Has file sharing finally destroyed the music industry? I doubt it. Even if those lawsuits were having the chilling effect they are intended to spread, shutting down every P2P network on the planet, CD sales would be suffering.
Why? It’s tempting to say there’s no good new music, and that the record companies have brought this on themselves by promoting the Brtiney Spears’ of the world. But I’m sure there’s good music out there somewhere, and this sounds more like a subjective criticism than a real hypothesis.