What, did the lawyers’ billable hours finally exceed major label profits?
A smart (and necessarily anonymous) person told me this: “They [the RIAA] have one of the worst brands in DC trade association politics. . . the RIAA is basically screwed and I’m not entirely sure how they hope to reconstitute themselves. There’s no easy math here.”
Here’s the Wall Street Journal‘s take:
This is much too little and far too late. The majors had plenty of time between the Napster decision and now to develop licensing strategies for the web. Instead, they clung desperately to a rapidly-crumbling regime based on physical scarcity and complete control of the production/distribution chain. As with the War on Drugs, the RIAA’s strategy of punitive action as a deterrent was/is wholly ineffective. And you don’t have to be Copyleft (I’m not entirely) to see it this way.
Net neutrality rules at the FCC and copyright reform are guaranteed to be big issues in 2009 and beyond. We’ll see how this all plays out with a new Administration and Congress.