A Look At The Death Of The Record Industry In 1980
If you had your doubts that the 'sky is falling' on the record industry, this video will seal the deal. Growth is slowing; there aren't enough super-sellers to bring revenue back. Albums are over shipped and stores are sending them back. Fans have access to too much free music. Rock is no longer viable. Fans just don't have to buy record anymore in order to hear music and the industry is in hard times. Major companies are folding. Layoffs are abundant. And the illegal copying of records is eroding profits. Yet, video might save the industry from this great despair. What year is it? 1980.
Take A Look A This Great 20/20 Feature: