This fascinating book chronicles the making of the new record industry, from the boom years of the CD revolution of the late 1980s to the crisis of the present day, with particular stress on the last decade.
The CD revolution was a bonanza for the record industry. The new digital medium attracted sales in its own right and existing material could now be re-packaged and resold with huge profit margins.
Sales grew, but then the pirates moved in, exploiting the medium by making perfect copies.When the legitimate paid-for download
finally arrived courtesy of Apple in 1993, it soon became clear that the Californian company’s sole aim was to sell iPods.
The fortunes of the content owners were of little interest to them and so the record companies found themselves parting with individual tracks for pennies instead of whole albums for pounds.
Phil Hardy’s book explains how, in a few short years, the long-established record industry became an irrelevance as its slow-moving executives were comprehensively outmanoeuvred by a generation of outsiders who fully understood the new technology and
the new market it had created.
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About the Author
Phil Hardy is a noted music industry journalist. He has written for Time Out, Variety and other publications and acted as a consultant on music business issues for bodies such as the Greater London Enterprise board and the World Bank. He was the founding editor of Music and Copyright, offering news and analysis on the international music industry.
Hardy publishes and edits the online newsletter theviewfromtheboundary. He has written or edited several books on music and film. He is also the chief editor and contributing writer to The Aurum Film Encyclopedia.
Table of Contents
Chapter 1 The CD Boom 1
Chapter 2 Seeking To Monetize Intellectual Property: The First Rise And Fall Of EMI 10
Chapter 3 The Creation Of WMG 26
Chapter 4 Would You Like To Dance? EMI And WMG 43
Chapter 5 Bertelsmann Gets Itchy Feet 64
Chapter 6 Profit Warnings From EMI 76
Chapter 7 Mostly Digital 95
Chapter 8 A Revolution In Retailing 114
Chapter 9 Digital Problems Galore 130
Chapter 10 The Conglomerates Think Again About The Music Business 146
Chapter 11 The Rise And Fall Of Sony BMG 161
Chapter 12 WMG, The Bronfman Era 183
Chapter 13 EMI Finds Independence Lonely 204
Chapter 14 Transforming EMI: The Hands Era, Part One 217
Chapter 15 Battling Citigroup, The Hands Era, Part Two 243
Chapter 16 Hopes For The Future, Legislation And New Business Plans 262
Chapter 17 Rush To Market: The Sale Of WMG And EMI 290
Chapter 18 Battling The Regulators 316