It's easy to see how far the MP3 revolution has come. While last year's summit drew barely 200 participants, this year over 1,000 attendees crowded around to hear about the latest developments in the technology that promises perfect music, perfectly free. Distributed freely over the Internet, MP3 files end in .mp3 and command about 1 MB for each minute of music. The repercussions for the music industry are obvious. You can store your entire classical music collection in your car stereo, or download a mix of your favorite singles into a portable player before you hit the gym.
Digital delivery is already here.
Now we have to find a way to take advantage of this great marketing opportunity. They will have to adapt to this new delivery system and put in place new revenue streams. The digital revolution has already had a major impact on the industry, and early adopters will be some of the first consumers to truly experiment with MP3's possibilities. The industry is already easing its way into this revolution, he says, and working to make consumers more comfortable with the transition to a digital world. Right now we lock up their CDs in huge, large-format changers installed in a rack somewhere in the depths of their home.