Friday, October 20

Tower no more

What does it mean that Tower is out of business?
The closing of the flagship location of Tower Records on Sunset Boulevard in West Hollywood is another shining example of the illness that has infected the music business. Feeding on executive arrogance and technological fear – the pompous geniuses who run today’s media conglomerates and so called major record labels are much to blame for the loss of such an icon. It was on their watch that the music business has gone from a 30 billion dollar business per year (domestically) to one that sells about one third of that now. For the music business, the fall of the Roman Empire has taken a little more than a decade.
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