When I started in the music business, music was important and vital to our culture. Artists connected with their fans. Record labels signed cutting-edge artists, and FM radio offered an incredible variety of music. Music touched fans in a unique and personal way. Our culture was enriched and the music business was healthy and strong.
That's all changed.
Today the music business is in crisis. Sales have decreased between 20 and 30 percent over the past three years. Record labels are suing children for using unauthorized peer-to-peer (P2P) file-sharing systems. Only a few artists ever hear their music on the radio, yet radio networks are battling Congress over ownership restrictions. Independent music stores are closing at an unprecedented pace. And the artists seem to be at odds with just about everyone -- even the fans.
Contrary to conventional wisdom, the root problem is not the artists, the fans or even new Internet technology. The problem is the music industry itself. It's systemic. The industry, which was once composed of hundreds of big and small record labels, is now controlled by just a handful of unregulated, multinational corporations determined to continue their mad rush toward further consolidation and merger. Sony and BMG announced their agreement to merge in November, and EMI and Time Warner may not be far behind. The industry may soon be dominated by only three multinational corporations.
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