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gernb1

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gernb1

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Wednesday, 12/18/2002 11:26:20 AM

Wednesday, December 18, 2002 11:26:20 AM

Post# of 93822
The Day the Music Industry Died
Wednesday December 18, 11:10 am ET

By James J. Cramer,

An entire industry seems to be disappearing before our eyes: the music industry. Consider Best Buy (NYSE:BBY - News). It bought Musicland to mask a slowdown in hard goods. But Musicland ran smack into the "free" music business that we all know is happening with MP3s, where nobody purchases music from a store anymore.

In fact, when you go to buy a PC, the salespeople tell you that you'll never have to buy music again because you can burn music CDs right off the Internet. And despite industry efforts to control that practice, it's unstoppable.


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