How the Internet Has All But Destroyed the Market for Films, Music & Newspapers
Date: Sunday, August 14, 2011 @ 23:25:58 UTC

Over the past decade, much of the value created by music, films, and newspapers has benefited other companies pirates and respected technology firms alike. The Pirate Bay website made money by illegally offering major-label albums, even as music sales declined to less than half of what they were 10 years ago. YouTube used clips from shows such as NBC's Saturday Night Live to build a business that Google bought for $1.65bn. And the Huffington Post became one of the most popular news sites online largely by rewriting newspaper articles. This isn't the inevitable result of technology. Traditionally, the companies that invested in music and film also controlled their distribution EMI, for example, owned recording studios, pressing plants, and the infrastructure that delivered CDs to stores. Piracy was always a nuisance, but never a serious threat. The same was true of other media businesses: the easiest place to get a newspaper story was from a newspaper. Complete Article

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