Thursday, June 21, 2007

Apocalypse Now: Recordz Edition

Rolling Stone has a new article out stating that "major labels" will soon be extinct.
"The major labels are struggling to reinvent their business models, even as some wonder whether it’s too late. “The record business is over,” says music attorney Peter Paterno, who represents Metallica and Dr. Dre. “The labels have wonderful assets — they just can’t make any money off them.” One senior music-industry source who requested anonymity went further: “Here we have a business that’s dying. There won’t be any major labels pretty soon.”Whole Article Here

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