Pirates killed the music industry, but music lives on
What is becoming a common theme amongst every traditional business that is affected by the internet. Middlemen are replaced by the open and accessible framework of the internet. The press and the business of journalism are being transformed (just watch CNN anchors read tweets on-air). A recent paper by economist Joel Waldfogel shows the results of his study around the music industry. The claims made by the industry around the internet is that piracy is destroying culture and music itself. Loss of sales by major record companies have always been greatly exaggerated but other claims are suspect as well. The growing trend is that mega music vendors are down, but the true question is whether there is less music available. Independant music labels using the power of the internet can make good music flourish much easier. Youtube and yes torrent sites make it easier to get music into the hands of more people. In the end getting good music to the masses is a key measure.Artists can then ca...