Napster offers recording industry $1 billion - Tech News - CNET.com
The key to this whole situation lies within one shocking sentence:
"Although payments of $200 million per year could be a headline grabber, the sum amounts to only a little more than 1 percent of the recording industry's revenue in 2000."
Read that again. For those without calculators, the recording industry's total revenue for the year 2000 was 20 billion dollars. This is why Napster can offer a billion dollars or ten; it won't matter, because the industry is already making a ridiculous amount of money. Wouldn't we all like to see what percentage of that 20 billion ends up in the pockets of the artists? Oh, but that information isn't available to the media. Probably because it would incite riots.
I say again that Napster's value is in promotion, and the recording industry's attempts to kill the service is like trying to stop a flood with a paper towel. Music just wants to be free...
The key to this whole situation lies within one shocking sentence:
"Although payments of $200 million per year could be a headline grabber, the sum amounts to only a little more than 1 percent of the recording industry's revenue in 2000."
Read that again. For those without calculators, the recording industry's total revenue for the year 2000 was 20 billion dollars. This is why Napster can offer a billion dollars or ten; it won't matter, because the industry is already making a ridiculous amount of money. Wouldn't we all like to see what percentage of that 20 billion ends up in the pockets of the artists? Oh, but that information isn't available to the media. Probably because it would incite riots.
I say again that Napster's value is in promotion, and the recording industry's attempts to kill the service is like trying to stop a flood with a paper towel. Music just wants to be free...
posted by stonedog at 2:54 PM
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