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Music Industry – The Missing Money

By April 17, 2008No Comments

If the CD market has dropped from $14.2b to $10b in less than10 years, what is the money being spent on instead? From the latest edition of Esquire, Chuck Klosterman reports:

And while we’ll never know exactly where all those bones disappeared, my specific theory is this: A lot of the money not spent on music in the twenty-first century is being used to pay off credit-card debt that was incurred during the nineties. In other words, not paying for In Rainbows today is helping people eliminate the balance they still owe for buying Mellon Collie and the Infinite Sadness when they were broke in 1995.

And, for no better reason than I want to try the “Add media” button in WP2.5, here’s Pinkard & Bowden’s amusing parody of “Islands in the Stream” (“Music Industry”) from 1985:

Pinkard & Bowden PG-13 Album CoverPinkard & Bowden — Music Industry (1985)