The Big Picture sums up what is wrong with the Music Industry in one sentence chock full of links.... (via Pho)

The Big Picture finishes up the post with the question:

How are these guys still in business?

This is a danged fine question. I frequently wonder when the multi-national media conglomerations (oops ... corporations, sorry... or are they...) that own the major labels are going to either close them down due to lack of quarterly profits or sell them off as Vivendi is/has done with Universal Music Group or as AOL/Time-Warner is doing with Warner Bros. Records.

A return to long-term vision, willing to wait for long term returns rather than quarterly profits, as well as embracing new technologies and new ways of distributing recorded music will be the first step for the majors towards returning to arts/music friendly business practices.