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November 27, 2007
The music industry has a problem
The problem is that they have no conception of how to do business. Rather than being customer-centric, the industry is capital-centric!
"There was a cartoon character years ago called the Shmoo," he says in a raspy tenor. "It was in Li'l Abner. The Shmoo was a nice animal, a nice fella, but if you were hungry, you cut off a piece of him and put onions on it, and if you wanted to play football you just made him like a football. You could do anything to him. That's what was happening to the music business. Everyone was treating the music business like it was a Shmoo. (via)Note the tell-tale "but". The fact that so many people want a piece of the music industry is thought of as a problem. It isn't, it's simply the greatest opportunity that has ever befallen their industry. Failure to understand that is... insane.
If you're an investor in any of these companies, now would be an excellent time to go CEO shopping...
Posted by Andrew at November 27, 2007 12:59 PM
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