Warner Music VP Seymour Stein admits “We blew it”
By Morelli
Seymour Stein, Vice-President at Warner Music Group and founder of Sire Records, from the Globe and Mail (via Coolfer).
“We blew it. The first major music labels were all phonograph manufacturers, but by the time the Beatles came along, most companies were no longer involved in the hardware. Had we remained in control of the hardware, we wouldn’t be hurting as much as we are now. And the iPod would be ours.”
What? The major labels controlling music hardware?
Why not own ALL technology? Universal cars, Warner TV’s and Sony Spaceships! That’s ridiculous, and so is controlling the music industry.
Yes, you “blew it” by not evolving according to the technological changes in the industry. Crying about the 19th century phonograph isn’t going to help the major labels’ declining health. Digital distribution and live performances should be the priority, not whether the iPod is “yours”.
Source: Coolfer, TMT
