File sharing has never been more popular than it is now, ... People have heard all the legal threats and admonitions, but that's not enough. They don't believe it.
If consumers feel it meets the standard of P2P, they'll be willing to try it, ... Otherwise, they won't care.
None of these companies are essential in the mix. They're afterthoughts.
And 10 billion songs per year is a very conservative estimate.
Most people, most of the time, get their music free. And that's not a marketplace. In fact, it directly threatens the concept of the music marketplace.
It's an existential question. To answer it, you'd have to get between the ears of everyone who downloads for free, every time they download something.
It's just like if Sony went out of business. Your Sony television would still function.
There's always going to be a need for gatekeepers who perform the service that record labels do now. Otherwise, it's just noise, pure cacophony. Most people who are not A&R (Artist & Repertoire) executives don't want to sort through tens of thousands of contenders to find 50 things that sound great.
Practically speaking, ... I don't know that it makes any difference to the kid in the dorm room. That genie is already out of the bottle.
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