Also, the reason why torrent sites and the like are being targeted by the majors isn't because their music is being downloaded. It's because people are finding better music to listen to via the installed community and adjusting their tastes accordingly. They're trying to eliminate the competition of independent music.
What killed radio? The same thing that's going to kill major record labels: choice. An increasingly mediocre mainstream standard coupled with the discovery potential of the internet has caused a shift in taste. Those connected by the RIAA tout easily replicated and interchangeable crap so that they can essentially sell the same product to you over and over. People are catching on.
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