The day the music industry sued someone for $72 trillion – National
In 1999, the recorded music industry was swimming, drowning in money. CDs had been on an upward trajectory for more than 15 years, reaching sales of 2.4 billion globally and one billion units in the U.S. alone in 2000.
Despite the massive scale of the CD industry and plants running flat out around the world, the promised decline in prices never came. In fact, the industry was caught in a price-fixing scheme that inflated the cost of CDs between 1995 and 2000 with a marketing plan called “minimum advertised pricing.” It’s estimated customers were overcharged US$500 million and up to US$5 per album. (The case was settled with a fine and a promise to give US$75 million to public and non-profit groups.)At the same time, labels moved to eliminate the more affordable CD single. “Want just that o...






