Music market is downbeat

At right is the chart that has the music market singing the blues. In a recent article, "Never Mind the Music," in CFO magazine, the industry's problems are delineated. It isn't just piracy anymore:

Its woes go far beyond enemy number one—music piracy. Fast-changing consumer tastes, shrinking margins and the general economic downturn were all hitting the music business hard.

The chart seems to suggest that the levels now are similar to levels in the late 1990's. It's the trends that are worrying -- no industry specialists expect them to change in the next year.

The article lists the eight biggest changes to the music industry over the past ten years. In order, they include piracy, digital players (e.g., MP3 players), non-music retailers selling music (e.g., Wal-Mart), consolidation of radio broadcasters (four companies control 60% of the market).

No mention of ways in which music has impacted the music industry. It didn't even make the list.