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Industry Conference Seeks CD Replacement
March 15, 2003
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The Music Industry is in a crisis. By the end of this year CD sales may have declined 25% in 3 years, record shops are closing at huge rates and industry attempts to stop P2P have failed.

This is not the first time the entertainment industry have had problems adapting to new technology. The final stage of the dealing with new technology like the VHS was acceptance and embracement.

The South by Southwest Music Conference took place this week. There was acceptance at the conference that the industry is on the brink of major change. They discussed several possible fresh ways for embracing digital downloads.

One possible outcome discussed was the need for greater offline embracement of digital downloads by the music industry. The solution put forward was the need for consumers to be able to "walk into a record store that houses an unlimited library of digital music and paying to download individual tracks onto your handheld MP3 player".

Another possible outcome discussed was the ability to “attend a concert and paying a few extra dollars to take home a professionally produced CD recording of the show".

Some speakers stressed the need for the industry to focus on non-music sales. They stressed the need to build a business model that does not focus on music sales.

Others choose to focus on P2P licensing. Nikki Hemming, Hillary Rosen and others have been key advocates of a P2P licensing scheme when ISP's pay to allow P2P on their service. One speaker said "Everyone wins: the small guy, the big guy" but admitted that such a solution may not work adding "I think I'll be dead before there's an act of Congress that suggests that Internet service providers pay a license fee".

Whatever happens the industry is certainly accepting to greater degrees that selling music via CD sales is doomed. One speaker said "Unless you're in a coma, it's clear that the current business model of selling shiny discs at $17.99 isn't going to sustain anybody any longer".

This story is filed in these Slyck News categories
Technology News :: Hardware

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