A very well thought article by an obviously well learned man.
I recommend reading it, especially part 2, which discusses rememdies.
However, I noted the context was the AMERICAN music industry, and wondered, how about Malaysia?
What variables in the equation are affected most by the shift in context?
Also, the article discussed the record label -> consumer. Considering the title of the article, what about the economics of the music industry considering the other half: the artiste/performer’s end? I suspect a fuller picture can be painted would show more.
Having not formally gone deep into economics, I have sent the article to Tobias, a trusted Swedish friend and Econs buff, who will discuss this with me. I will gain a lot from his insight.
From this I hope to compile a reply and send it to the author of the mentioned article for his feedback. Stay tuned.