It always strikes me as amazing how clueless the music industry appears to be. They have fought every technology advance in their history (phonograph and radio the best examples) rather than embracing them to make them part of their business model. And this idea of only swinging for home runs with millions of dollars invested in a few super-stars while they loose money on thousands of smaller names is just crazy. Seems they could make money on those smaller names with the right business model (offer lower cost CDs to a smaller fan base - just lower your break-even point w/o all the advertising).
But are they really that stupid? It seems that 'efficient market' theory would come to play and someone could turn them around - maybe just too much history and inertia?
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