Saturday, February 7, 2009

In The Journal

You know it's tough going in the music industry when a headline like this appears in the Wall Street Journal. According to the paper, "Warner Music Group Corp. posted a surprise fiscal first-quarter profit as the company continued to record strength in its digital music business." And yet, "overall U.S. music sales fell for the seventh time in eight years in 2008 as increases in digitally downloaded albums and songs weren't enough to offset a nearly 20% plunge in compact-disc sales. In November, Warner's Atlantic Records became the first major label to have U.S. digital sales outstrip that of compact discs."

Sadly, it's only going to get worse before a new business model—that hasn't even been invented yet—eventually turns things around. Meanwhile, the Times Square Virgin Records closes in March, one of only two major retailers left in NYC; the other is the Virgin in Union Square. To think, a decade ago, there was Tower, HMV and any number of smaller chains. What a sad state of affairs.

Bruce Springsteen is all pissy because tickets to some concert of his were being sold over face value. Now, first of all, if you're willing to pay the advertised $95 to see peepaw perform after his embarrassing faux-enthused Super Bowl, more power to you.

But considering Springsteen's decades of draining tens of millions of dollars from his fans for material that has exponentially suffered creatively over the years ("working class hero," my ass), it takes some nerve to even bring such a subject up. Bruuuuce, why don't you just go buff up the BMW, take the money and run.

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