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Music Industry on Verge of Collapse, Says Radiohead Print E-mail
by Tom McGregor    Wed, Jun 9, 2010, 07:04 AM

Bankrupt Music.jpgFor decades, major labels raked in billions of dollars from the music industry. now, the tide is turning and major labels appear on the brink of financial collapse. The music industry failed to embrace the Internet and now it's paying the price for the poor business decision.

The Houston Chronicle reports that, "Radiohead frontman Thom Yorke is warning the music industry is on the brink of collapse, insisting young musicians should resist signing record deals because the major labels will 'completely fold' within months."

In 2007, the British rockers broke away from EMI, their longtime label, and proceeded to embrace the new digital era with the release of 'In Rainbows, their seventh album, which they offered up over the Internet and permitted fans to select the price.

Yorke has now declared a warning to upcoming artists, telling them not to sign traditional record deals since they would be tying themselves to "the sinking ship."

According to the Chronicle, "in an interview for a new high school textbook called The Rax Active Citizen Toolkit, which aims to inspire youngsters to become more politically literate. Yorke claims the music industry is on the verge of a major crisis and could collapse completely within 'months.'"

He announced, "it will be only a matter of time - months rather than years - before the music business establishment completely folds. (It will be) no great loss to the world."

To read the entire article from the Houston Chronicle, link here:

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written by Kristin , June 14, 2010

The Kids Saving Kids Campaign and Becca Levy are still looking for a few good musicians in Texas. If you want to help raise awareness of drunk driving prevention with your music, visit www.ksk.stopddnow.com. You must be the age of 18 or under and have an original recorded song.


Get more information and submit your music to www.ksk.stopddnow.com



For more on Becca Levy, visit www.beccalevy.com



Save Lives with Your Talent!




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