Wes Phillips

The Music Industry's Explosive Decompression

This time last year the music industry was ready to celebrate. Compact disc sales were up for the first time in years, peer-to-peer file-sharing networks were reeling from lawsuits, ringtone sales were proving unexpectedly profitable, and legitimate (paid-for, that is) downloads were rising. But this year, Jim Urie, president of Universal Music Group, told <I>The Wall Street Journal</I> that Christmas 2005 was "a bleak holiday season at the end of a bleak year."

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