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Digital music firms pay millions for label support
Posted On: 04/06/2008 21:23:05

The record labels are getting even these days with dealing with digital firms according to Antony Bruno of Reuters. The music industry was the last to embrace digital and online technology in regards to their relationship to music. At first it tried to fight against digital downloads, something it shouldn’t have done. The music industry should’ve gotten onboard and find a way to capitalize on the opportunity to get revenue from online music services. It is only after almost 5 years that the labels are finally getting smart about the way in which to capture income from their music. A new online digital music service or firm has to pay millions of dollars and give up a large percentage of its company revenue to music labels, a reality that doesn't sit well with most new digital firms. Reuters

Tags: Digital Music Downloads Labels Millions



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