No industry is changing as rapid as the music industry. In the past, the record companies fully determined which artists were launched national or international. The production costs, the promotional costs and the distribution costs for an album were significant. The music industry lived for the blockbusters with huge sales from a handful of talents. The core business of a record company was to discover and to launch new talent. In the last ten years, this has all changed. The record companies could not keep up with the rapid developments in the market and lost considerable ground to newcomers.
Via Simon Decreuze