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![\"chart_music.top.gif\"](\"http:\/\/i2.cdn.turner.com\/money\/2010\/02\/02\/news\/companies\/napster_music_industry\/chart_music.top.gif\")
By David <\/a><\/span><\/p>\nBut the music industry has a strange interpretation<\/a> of the picture above:<\/p>\n Apple’s iTunes is credited with finally getting people to pay for digital music, but it wasn’t unveiled until 2003…<\/p>\n<\/blockquote>\n Time out: The music industry’s revenue is half what it was in 2003. It’s not clear to me that iTunes did anything more than ring the death knell of record stores while revenues continues to plunge. OK, time in: <\/p>\n ..In “That Why does Gandhi think those years were so crucial? During the “four-year lag” between Music is free now, and it has been free for millions of Americans for more than a decade. The industry was never going to unring that bell.<\/p>\n [via Matt Yglesias<\/a>] Total revenue from US music sales and licensing fell almost 60 percent in the last decade, from $14.6 billion to $6.3 billion. Why? The Internet replaced music stores as the most convenient place to find and grab music for your library. This graph tells the story: By David But the music industry has a strange […]<\/p>\n","protected":false},"author":1534,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-267183","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/267183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1534"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=267183"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/267183\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=267183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=267183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=267183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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\nthe time between Napster’s shuttering and iTunes’ debut, many of
\nNapster’s 60 million users found other online file sharing techniques
\nto get music for free. Even after iTunes got people buying music tracks
\nfor just 99 cents, it wasn’t as attractive as free.<\/p>\n
\nfour-year lag is where the music industry lost the battle,”<\/b> said Sonal
\nGandhi, music analyst with Forrester Research. “They lost an
\nopportunity to take consumers’ new behavior and really monetize it in a
\nway that nipped the free music expectation in the bud.” <\/p>\n<\/blockquote>\n
\n1999 and 2003, music sales fell no more than 20 percent. Six years
\nafter iTunes debuted, sales fell another 40 percent. I don’t know that
\nany one thing is responsible for this — you could point to bitTorrent
\ntechnology or YouTube or some illegal downloading services or just file it all under: The Internet. But I don’t
\nparticularly understand why you would blame the erosion of music
\nprofits in the last three years on some lost opportunity circa 2002. <\/p>\n
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