The music industry buoyed by its landmark victories over illegal ‘musicsharing’, looks set to rake in big moolah from online music sales.The biggest challenge for the digital music business has always been to make music easier to buy than to steal. That ambition is turning into reality.Probably, there is no other industry in the world, for which something is both its savior and enemy. Globally, technology has come to be exactly that for the music industry.
While the music companies stayed away from adopting it, a host of P2P or filesharing companies tapped it to its fullest by allowing people to share music freely over their networks.This denied the music companies any chance to make money by selling music online. However, that is going to change now. The US Supreme Court recently ordered Grokster (a major P2P company) to close its operations ruling that it was infringing on the copyrights of the music companies. Buoyed by their legal victory against the P2P operators, the music companies are now going after every filesharing company. It is not strange that more and more P2P networks are looking at alliances with music companies to prevent their boats from sinking. |
