Tuesday, July 19, 2011

1979 news report on the collapse of the record industry

1979 news report on the collapse of the record industry: "

32 years ago and the writing was already on the wall…and this was before CDs hit the market.

Pinning their hopes on punk and power pop while not really supporting either didn’t help an industry in freefall. And despite the hype in this clip, generic bands like 707 barely created a ripple on the American airwaves. It wasn’t until Michael Jackson’s “Thriller” was released that the record execs felt a slight trembling in their scrotal sacs before things went cold again.

Ironically, good old vinyl is back and one of the few bright spots in the currently downsized music marketplace, selling more than it has in the past few decades.

Note Michael Nesmith on the Marquee (in 1979!), some punk bands on a club calender and the Dickies’ appearance. Tower Records R.I.P. And while Frampton came alive and eventually became zombified, Patti Smith still reigns!

Thanks to Mickstadium.


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