Admittedly, digital music is the wave of the future. In the ongoing CES 2008, research firm Yankee Group projects that revenues generated from online and mobile downloads in the U.S. will grow from $1.98 billion in 2007 to $5.34 billion in 2012. 

Digitization and direct-to-consumer transactions are the two major growth drivers propelling that industry. Still, its impressive performance is not ample to manufacture up for the losses triggered by the

waning CD sales. Unfortunately, the rise of digital music will spell the death of the record label.

Michael Goodman, director of digital entertainment at Yankee Group, plus predicts the changing relationships in that industry.

“It’s not just that the record labels are facing declining revenue; rather, the basic relationship within recording artists, record labels and consumers is in major flux. As bands retain ownership of their music, […]

Orginal post by Steven Kim

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