Runaway Dinosaur

For the love of the music…..

Runaway Dinosaur

Posted by T Rex on November 27, 2007

morris.jpgwired.jpg 

There is a lot of buzz around Seth Mnookin’s Wired article with Universal Music Group CEO Doug Morris. It’s a excellent piece that not only shows how Mr. Morris let the explosion of the Internet run him over, but also what Universal has done to try and adapt. These new methods of business and new companies in the digital music arena is why I created Runaway Dinosaur. The labels old business models are on the brink of extinction and Mr. Morris’s comments shed light on just how bad it is.

“If you had Coca-Cola coming through the faucet in your kitchen, how much would you be willing to pay for Coca-Cola? There you go,” he says. “That’s what happened to the record business.”

This was taken from the Wired article.

“This year, 22 percent of all music sold in the US will move through iTunes. “If iTunes gets up to 40 or 50 percent, they’ll have too much power for anyone else to enter the business,” says James McQuivey, who analyzes the digital music industry for Forrester Research. If the labels want out, they have two choices: Find a way to unseat the iPod or allow iTunes’ competitors to sell unprotected files that can play on Apple’s ubiquitous device. 

Check out New York’s Magazine reaction where they give the “industry six months to live”

The business is running away.

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