Peer-to-peer sharing is "murdering" music industry

Posted by Jamie Franklin

Individuals who are engaging in illegal downloading are "murdering" what is left of the music industry, one expert has claimed.

Alan McGee, former boss at Creation records, told the NME that peer-to-peer sharing is the main reason for the downfall of record labels.

He was speaking after EMI was taken over by US banking firm Citigroup in order to restructure its debts.

"We have to change the legislation in this country and come down much harder on piracy," Mr McGee observed.

He added unless the regulations change, then there will be no more breakthroughs on a par with the Rolling Stones or The Beatles.

Bands no longer get the chance to develop as they are expected to deliver instant success, Mr McGee noted, which is a big problem for the music industry.

And the former record company exec stated Domino is the only independent label to have had any success over the last few years.

Product Category: Music Industry