Reuters reports: “The record industry pleaded on Wednesday with consumers to stop downloading and recording music for free because piracy was strangling the multi-billion-dollar industry. Profits have plummeted, especially in Europe. CD sales in Germany last year were 185 million whereas the number of blank CDs used to copy music was estimated at 182 million…”
And from the music retailer perspective, the Dallas Morning News and Microsoft’s bCentral.com report: “Ray Cooper and Dave Hilzendager will tell you it’s not the best time to be in the record retailing business. Advances in music technology – which, in turn, brought Elvis to vinyl, ABBA to 8-track, Cyndi Lauper to cassette, Madonna to compact disc and Eminem to MP3 – are now threatening the very industry they helped create. The changes are forcing Mr. Cooper and Mr. Hilzendager, co-owners of Oak Lawn Records, out of business. The dance-music record store will close its doors for good on July 31 after 22 years in a shopping center at Congress Avenue and Shelby Street…”
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