Let’s review our plot so far:
We have an industry that is afraid of technology, its senior spokespeople lie to congress, they use Enron-like accounting, they somehow –WHOOPS! — forget to pay their artists, they are convicted price fixers, at the first sign of any kind of an economic rebound their instinct is to raise prices, they have ignored competitive pressures from other forms of entertainment such as DVDs, they ignore the devastatingly negative effects of radio ownership consolidation to their business model, they engage in all kinds of anti-competitive protectionism, they are unconcerned with the quality of their product, their customers are harried for time and distracted by other interests, their customers see nothing wrong with downloading music for free, some of their biggest stars are hoping the Internet will replace the labels, despite all too many signs that their product is over priced, they refuse to allow market forces to set competitive prices, they have consistently been one of the most mismanaged businesses in history, oh, and they somehow think they are immune from the business cycle.
How are these guys still in business?
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.