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Tunes of Technology
Undoubtedly, you've heard about the recent tactics that the Recording Industry Association of America has undertaken against P2P networks that allow the unauthorized sharing of music. The RIAA has started to pursue legal action against individuals who participate in these P2P networks and has resorted to scare tactics to get people away from unauthorized music sharing.
I consider the RIAA's moves to be shortsighted and non-innovative, to say the least. Does the RIAA really think that P2P networks and the sharing of files will disappear? The truth is that the developers of P2P will move their software forward and disable the legal avenue that the RIAA currently is pursuing.
Free-exchange will only re-appear, and the technologically backward RIAA will have missed the boat once again. The RIAA and major record labels are missing a ripe opportunity to redefine the music industry and music distribution avenues. This is a clear case of companies not understanding customer needs and pursuing avenues that are lose-lose for both the company and the customer. By utilizing advanced analytics, solid e-marketing and personalization principles, and by helping promote the improvement of P2P, the recording industry can redefine its business model and reap the benefits of sustainable profits.
The music industry is outdated. Today's teens no longer want to…
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