How the Music Industry Died: Steve Knopper's Appetite for Self-Destruction

A Rolling Stone reporter charts the doomed path from Thriller to Internet-based horror

A A A Comments (4) By Rob Harvilla Wednesday, Jan 7 2009

...continued from page 1

The last chapter lists everything the music industry should do—needs to do—to survive. What percentage of that do you think will actually come to pass? How optimistic are you? What percentage of the people you interviewed will still hold the same job five years from now?

I just think that the smaller labels are going to continue to stumble, if they're not bought outright. EMI seems to be reeling right now. Warner's stock price is way down, although they've had some success. Probably, you're going to wind up with a couple hit machines: Universal, maybe Sony-BMG. You still are going to need those kinds of companies, that expertise, to find the proverbial Toni Braxton singing in the gas station, discovered by some label talent scout. But those companies are going to make less and less money, and get smaller and smaller, and get less and less influential, and I think that maybe Live Nation or Ticketmaster or my mythical Apple-EMI is going to pop up and change the model and be more nimble.

James R. Minchin III

No, it wasn't Metallica's fault.

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Another point I want to make is that these labels will always own some really incredible assets. EMI owns the Beatles catalog, so they're always going to be a player. You or I could own the Beatles catalog and make money. Just not make enough money to have hookers and blow.

More Q's and longer A's from this interview are available here.

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Joanne Pacicca 01/13/2009 6:29:00 PM

Your observation is true. Everyone is looking for the download or the discount. Both are easily acquired. The days of old double digit sales is over. The music industry needs a good overhaul anyway. Let them re-organize; the demand is there, now provide the goods at a reasonable price and by reasonable method.
fred dusable 01/09/2009 6:56:00 PM

can you tell me why we need to have another toni braxton discovered? even this guy doesn't get it. all this multi million seller absolute shit has been pushed down our throats by the "industry". you can't give it away after 2 years. thrift shops and landfills are full to the brim with toni braxton and mariah carey and the rest of it.
DART PARKER 01/08/2009 11:39:00 PM

WOW, a whole lot of nothing... My man, you are answering the obvious... Hindsight is 20/20 as they say... Anyone south of 40 knows the old men at the top slipped 10 yrs ago by fighting Napster and not studying it but that was a natural reaction to a serious, new problem (plus coke and hookers make u a little too sure of yourself)... We all also know we've been doing the same old same old as far as embracing a new approach to sales since the late 90's... The industry is very stagnated yet also very hopeful... New groups are shifting sales from physical property to digital and non traditional retailers and there is potentially a lot more paper to be made... but u knwo that already sport! BTW, the Yetnikoff coke and hooker era was over 20+ yrs ago sweetheart...
Joe 01/07/2009 7:22:00 PM

I sell used CDs. I think my business is worse because no one is buying new releases. I could sell them if I got a fair deal and I could give the customer a fair deal. Sell me new CDs for $5.00 and make the list price $7.99. Right now they want me to pay $12 to 13 for the CDs. I won't do it. Big chains sell a lot of CDs but don't help create demand as I think small stores can. If I like a CD, I can honestly recommend it and people will buy. Joe