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Chinese Democracy

How The Music Industry Garnered Record Profits in 2008

December 5, 2008 by Jim Connelly

With Chinese Democracy topping 1.5 million in CD sales and downloads in its second week — for a two-week total of 5 million, the best ever — it is now official: the American Music Industry has never been healthier. Even in what is easily the most crippling recession most of us have seen in our lifetimes, people are buying music at a record pace.

How have they done it? According to Frederick Stamphammer, the RIAA’s Vice-President of Digitization — and the man seen by most insiders as the key figure behind the transformation of the music industry into a virtual profit machine — it was by seizing the opportunity afforded by the internet nearly 10 years ago.

[Read more…] about How The Music Industry Garnered Record Profits in 2008

Filed Under: Amazon, DRM, iTunes, Marketing, Music, Piracy, The Long Tail, Unexpected Results Tagged With: Axl Rose, Chinese Democracy, DRM, Guns N' Roses, music industry, RIAA

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