As the the year draws to an end and I begin work on my predictions for 2008, I thought I'd take a look back at the predictions for 2007. Below is an unedited reposting.
Tell us what your music industry predictions are for 2008.
- 2007 will be the year that the mp3 format will gain much greater acceptance from record labels. Consumer dissatisfaction is growing daily, but the real action will begin in March when the new Amazon download store launches and gain momentum throughout the year.
- The mp3 momentum will hurt iTunes but not effect iPod sales which will remain very strong through 2007.
- Napster will finally run out of money and be sold at a bargain basement price.
- It will be a good time to own an indie record label as majors labels, investment firms, and even some tech companies go shopping.
- The other major labels will follow WMG's lead and start trying to sound and act like tech start-ups.
- Touring will continue to gain in importance both for income and promotion.
- Tight profit margins force consolidation within the download distribution sector.
- More artists at all levels and in all genres will go D.I.Y. and direct to the fans and the cottage industry to facilitate this transition will boom.
Share your predictions for 2008.