Here’s an interesting post from the guy that runs Yahoo! Entertainment. It’s about the predicament that the music industry finds itself in today. Music sales have been in a slow decline for the past 7 years, but it’s not because people aren’t listening to music any more. It’s because people have changed the way they consume music. CD’s are out, iPods are in.
But rather than embracing the Internet and evolving their business model, the music industry has spent the better part of the past decade fighting to perserve the status quo. They have fought against the very technologies that make it easy for consumers to get music and share it with others.
But as Ian Rogers points out, inconvenience doesn’t scale. What does scale is making it easy for people to consume your product when, where, and how they want to. This will require the music companies to rethink the way they make money, but it appears that they need to do that anyway.