Not just sinking, but sinking fast

Michael DeGusto’s correction of the death-of-the-music-industry chart everyone was passing around in January is almost a month old, but I just saw it and thought it was worth posting if only to repeat DeGusto’s obvious conclusion: in revenue terms, things are even worse than people thought. That this is happening at a time when the music itself is getting more interesting isn’t that surprising; the same thing happened in the early 80s, though without the effect of changing media and formats to give it more emphasis. Meanwhile, the major labels are still shifting the chairs around. Wonder how long it will take them to realize that it’s time to get on smaller boats.