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Rise of digital music spells end of record label as we know it

Plummeting CD sales means that the record label as we know it is on the way out. And fast-rising digital sales are not enough to reverse the trend.

His Master’s Voice is fading fastYankee Group announced at the 2008 International Consumer Electronics Show on Tuesday that two fundamental shifts were driving the music industry – digitisation and direct-to-consumer transactions. As a result, US recording industry revenue has plummeted 25% since peaking at $14.6 billion in 1999. By year-end 2006, it had declined to $11 billion.

In 2008, according to the Consumer Electronics Association, games software will pass the $11-billion mark, confirming that computer games now represent a bigger content market than music.
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The Big Change is a business strategy blog and newsletter published by Arthur Goldstuck, managing director of World Wide Worx, a leading technology research organisation based in Johannesburg, South Africa.

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