Time Magazine Names 10 Top Tech Failures And Music Grabs 3 Of Them
Time Magazine named it's 10 Biggest Tech Failures Of The Last Decade, and music and music related industries manage to grab three of the top spots.
- YouTube – Big doesn't mean profitable and its estimated that the company would have to triple its revenue just to break even. Time doesn't mention it, but the cost of licensing music – one of its flagship products – contributes mightely to its YouTube's overhead; and yet the labels even bigger payments.
- Zune – Apple launched the iPod in 2001 and it took Microsoft 5 years to respond with the Zune. It's been downhill ever since. During the crucial Christmas 2008 Zune generated $85 million in sales (and falling) while the iPod churned $3.37 billion.
- Sirius XM – You can't really blame music or licensing for this failure though its demise will hurt a indie and niiche music. The two companies simply spent too much money on techmology and talent to attract its 18.6 million subsriber (down 400,000). Then there's competition from iPods, Pandora and more.
Read the full list of Time Tech Failures here.
Top 10 Music & Music Tech Failures