06/07/2009 05:12 am ET Updated May 25, 2011

Digital Hollywood on the Music Industry: Still Doomed?


The Internet has the capacity to ruin some and propel others to stardom. The file-sharing site Napster turned the band Metallica into joke fodder, launched Radiohead into the US Top 20 for the first time and uprooted an entire Industry along the way. Nowhere was this more apparent than at Digital Hollywood yesterday, where the "Music Industry Innovates and Morphs" panel, whose attendance was about 1/3 of the comparative marketing and social media panels in the same time slot, basically devolved into a pity party when moderator Ted Cohen asked the audience (including yours truly) whether or not they purchase music.

Judging by the sparse and dismal audience response and despite the outlying successes of already established brands like Trent Renzor (as well as manufactured exceptions like Susan Boyle) the outlook for the record industry as we know it seems pretty bleak, as the hydra of file sharing and downloading will not quell anytime soon, despite the anti-Pirate Bay ruling late last month. Platforms like Pandora and (which was my answer to Cohen's entreaty) continue to grow loyal audiences with no clear cut digital rights resolution in site.

Read more here.