Malcolm McLaren has predicted the death of record labels.
The man notorious for being behind the Sex Pistols’ rise to fame was making a speech in New York to mark the Live From London showcase. He claimed that the labels downfall would arrive due to the rise of the internet, saying that technology and the internet were making music authentic again. He went on to say:
“No one cares about selling units any more. All record labels will end up closing eventually because no one wants actual CDs anymore. You can get whatever you want on the internet for nothing now.The experience of seeing a band or artist perform in front of you is what is valued today and that’s why live entertainment is having such a boom at the moment.”