The website Debating Europe has published an interview with me. Among other things, I say:
It is true that the record companies have lost half their revenues. I say: “Excellent! Half the job done”. What record companies do is distribution – it used to be an important function but now any teenage in his or her bedroom can do that work for free. In a market economy, your company will dissappear unless it’s competitive. The losses by the record companies just reflect a healthy market economy.
If you look at the statistics, people are spending as much, or even more, on music. But the big shift is that the record companies, who used to take lots of that, no longer have such a large cut – so more money is coming into the cultural sector, but more is also going to artists directly.
Read more at Debating Europe.