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In all fairness they have also cut costs and overhead. I am not suggesting that the revenue numbers haven't suffered but they are much leaner companies and they are much less in the manufacturing, warehousing and shipping business too. Far less of their capital is tied up in excess inventory.

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> On May 18, 2014, at 9:49 PM, Tom Fine <[log in to unmask]> wrote:
> 
> This article was in the NYTimes today, gives a Wall Street-centric view of the changes in music distribution:
> http://www.nytimes.com/2014/05/18/business/the-harmony-they-want-to-hear.html
> 
> Worth noting -- record company revenue is less than 1/2 vs 1999. In 15 years, half of the profit has been sucked out of the business. In order to maintain contact with reality, we should keep this in mind when we discuss "wish lists" for reissues, especially reissues involving costly remastering, and in thinking about whether it's viable to keep slow-selling single-CD issues in print on physical media.
> 
> David Burnham's joking description of chamber music as "music heard by few people" may apply to ALL but the most mainstream recorded music some day soon! At least as far as physical media is concerned.
> 
> -- Tom FIne