Lefsetz Tells the Music Labels How It Is

Congratulations major labels…  You’ve marginalized yourselves!  Wanting everybody to pay for music, suddenly few are.  And all the money is on the road.  And why should an act give you a share of its road money, you’re not agents, you don’t know how to do it, you only want to skim the cream from the top.  Or try to get the act on terrestrial radio and television, neither of which move tonnage like the old days.

From: The Lefsetz Letters

It’s like echoes resounding through a cave, and the record companies just don’t hear it.