James Delahunty
22 Mar 2005 11:44
Yet another artist has finally decided to make at least some comment on the on-going battle between the recording industry and file-sharers (or maybe I should say the on-going battle between major record labels and most of the general public?). Elvis Costello believes that eventually the Internet is going to bring about the end of the music record business, and believes that the major players would seriously want to change their ways and adjust to this new system now or die later.
"As soon as broadband is big enough, the record business is over," Costello said in an interview with MTV Networks. "They will have to change or die... It's going to be about five minutes to the end. All bets are off." This prediction could be correct because as it is, legal music downloads are booming, but are nothing in comparison to the massive amount of illegal filesharing that still goes on. The problem with the major record labels is they only understand adjusting with technology when it means they will control the majority of the music business whereas P2P file-sharing guarantees them nothing.
Source:
The Inquirer