[davidgerard]

Dangerous Minds has a somewhat ranty article going into precisely how the majors destroyed the record business in the late 1990s:

http://dangerousminds.net/comments/the_rise_and_fall_of_towe...

That said, they had some idea what they were doing: they cut the least profitable 25% of their artists and SKUs, dropping unit sales by 4.1%, then blamed "piracy":

http://web.archive.org/web/20030113094231/http://www.azoz.co...