It was reported today that all major recording labels have lost all hope in recovering lost CD sales do to mis-management and failure to adopt to a digital community.
Those companies in a last minute big to try and restore public trust has fired the RIAA as their corporations extortion agents.
Meanwhile record executives have had to take multi-million dollar pay cuts. The remaining artist signed to these recording companies have been reportedly been seen reporting to work in ball and chain so that they can help get the respective offices ready for auction.
Meanwhile Independent artist rejoiced and are being rewarded with 100% of music sales coming back to them versus pennies on the dollar that the signed artist were earning.
Long lines were seen across the country at unemployment offices by those that used to be employed by the recording companies.
Podcasters are reportedly signing up for the fire sales of the billions of dollars in recording gear that the recording studio’s are liquidating, and opening small recording studios in their garages across the nation.
The question being asked today is what industry is next. Is it the mainstream media. Only time will tell. Wall Street Journal