Entertainment Industry Should Embrace File-Sharing

[fsbooks]

Last month, 8,324,299 people were on peer-to-peer (P2P) networks at any given moment, with 1 billion files (at a conservative estimate) moving among computers around the world.

The entertainment industry, with the Big Five record labels and major movie studios to the fore, is one of the wealthiest corporate sectors in the world. And yet it's in deep trouble, or so it says, ...

But if that's the case -- if there is indeed suffering and terrible hardship and huge financial losses -- why isn't industry representing its investors and the people who work for it to the best of its abilities using the burgeoning world of online digital distribution as its major recovery tool? The Internet is awash with "plastic" corporate music sites selling the same tired "product" made and supplied by the Big Five, but none of them, including Apple's (Nasdaq: AAPL) Latest News about Apple much-vaunted iTunes, are even close to tapping the enormous potential offered by digital downloads.

In fact, they're not tapping it at all.

http://www.technewsworld.com/story/35168.html

Personally I think the "Entertainment Industry" is a dinosaur and should and will go away. Not that the value they create will disappear, rather it will be redistributed from "the hands of business men and marketeers" to where it belongs, the artists themselves.