Tower Records Files for Bankruptcy

***Veridian3*** · Feb 10, 2004, 04:26 AM

Tower records used to be a great store...how things change. I wonder if it really is to do with file sharing...

http://news.bbc.co.uk/1/hi/business/3473877.stm

**Roadee** · Feb 10, 2004, 07:18 AM

No.....I think it has to do more with over inflated prices that the RIAA and other such organizations force onto the retailers. Think about it......it cost the music companyies less than $1 to burn and package a CD........the average recording artists gets about .10 cents for each cd sold........and the CD's sell for about $15-20 a piece. Can you say exaggerated profit margin?? If they sold CD's for about $10 retail there really wouldn't be as much P2P crap to worry about. I prefer to buy my CD's used....can get just about anything for about $5-7 and it is in perfect shape. I dont bother buying new.....it is a waste of money.

Falstaff · Feb 10, 2004, 11:27 AM

definately the prices, two different music chains here in town are going under after filing for two forms of bankruptcy. This is a college and a tech town, so file sharing is rampant..

Necrosis · Feb 10, 2004, 09:47 PM

It's more because of places like Best Buy & Circuit City...and have you seen the prices at CDNow?? Sheesh!!!!

GutterPunk · Feb 12, 2004, 11:44 AM

I would have to base this mostly on the recording companies in general... Why pay 15-18 for a cd that has 2 good songs with. They have pretty much done away w/ singles... and it is not so much p2p anymore... $.99 a song is pretty good and a lot of business has turned to companies such as I-Tunes. I agree the inflation from RIAA has murdered it a lot too... Something needs to be done about the entertainment industry... there are a lot of areas that need to be better controlled and prices dropped... Ive seen enough of these people making millions of dollars for memorizing phrases for a movie... If you ask me its a joke.. sports music and movies are overpaid for what they do...