Why Won't Universal Music Let You See The 20/20 Report From 1980 About How The Music Industry Is Dying?
from the the-sky-is-falling! dept
Here's one for the "sky is falling" folks, who insist the music industry is dying. Orin Kerr, at the Volokh Conspiracy points us to an episode of the TV magazine show 20/20 all about how the music industry is in trouble... way back in 1980. What's amusing is that the story is the same. Early on, you see Joe Smith, the President of Elektra-Asylum records making a statement that might sound familiar:"Records, you don't have to buy to hear music. There's sensational equipment out there. There's great FM radio. There's enormous amounts of music out there, without having to buy a record. Counterfeiting, home-taping, and the failure of major artists to deliver records on some kind of regular basis."It's really funny to watch. After complaining about companies shutting down, layoffs and fights against counterfeiters, the report points out that the industry is betting on video laser discs to bring back the profits.
Filed Under: 20/20, copyright, history, music industry
Companies: universal music