Problems With the Music Industry

Max Jacobs has a nice rant today. Here is a part of it:

$18.99 for one CD? You have got to be kidding me. Considering most people want to buy a CD for the sake of one or two songs, $18.99 is really excessive. And considering, in many ways MP3 is a superior technology (e.g. you can carry your entire collection of music in a device smaller than a pack of cigarettes, don't have to worry about things skipping, easier to find the music you want) to CD's, it seems to make little sense for people to pay so much more for something that in many ways is inferior. I think a lot of people feel guilty about downloading music, but have no choice with prices like these. I bet if they lowered the cost of CD's, many more people would by them.

Business leaders should embrace the inevitable, and figure out a way to use it to their advantage. For some reason, entertainment executives are always fighting technology and changes in their demand and distributions schemes. They had best be careful, or they will open the door for a smaller company to compete by giving consumers what they desire. (Like Apple's music download site – the big guns should have embraced MP3s and music download way before Apple, even before Napster. They would have saved themselves a lot of headache.)

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