Piracy didn’t kill the major label business model, choice did.

A BLOG article by Bob Lefsetz documents what most of us recognize, but policy makers seem to largely be unaware of.

At some point in the future, earlier rather than later if the majors capitulate and agree to live in the present as opposed to the 1990s, music acquisition on the Net will be monetized. A great deal of revenue will be generated, but it will be distributed amongst a plethora of providers/acts.
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But the point is you no longer need the major label as a bank, as a marketer, you don’t need that much money and your fans do so much of the work for you. How do the majors compete in this new landscape? Good question.