Thursday, April 7, 2005
Advice for the Record Industry
Posted by James Fee in "ARTICLE" @ 12:00 PM
"Who hasn't heard the recent horror stories about students being sued by the RIAA for downloading music? This tactic won't work. Suing consumers has gained headlines, but it will not reenergize the music industry. To grow, the record industry must shed its legacy business models and respond to how its customers want to obtain and experience music. Look what happened with movies. As savvy Hollywood executives capitalized on new consumer technologies, motion picture revenues grew. In the past decade, Americans have rushed to home theater, to DVD and now to high-definition television (HDTV). Hollywood embraced these trends by providing entertainment in the new formats their customers demanded. As a result, Hollywood has prospered, breaking revenue records and making its customers happy. Although studios share concerns about unauthorized downloading, they have moved quickly to market "pay-to-view" Internet services, cut prices and added new DVD features. Hollywood's profits are booming."
I would say that Hollywood has had their own troubles with "new media". Sure DVDs have been a success, but have you noticed how much content is available for download on the internet from movie studios? Seems like Hollywood needs to step up also.
I would say that Hollywood has had their own troubles with "new media". Sure DVDs have been a success, but have you noticed how much content is available for download on the internet from movie studios? Seems like Hollywood needs to step up also.
