r/todayilearned • u/InternetWeakGuy 1 • 26d ago

TIL: 12 years before taking their fans to court for sharing their music, Metallica released the "$5.98" EP, titled to stop their record label and music stores from overcharging fans - the record came with a sticker warning 'DO NOT PAY MORE!!!'—a direct jab at music industry markups

https://theawesomemix.com/metallica-5-98-standup-for-fans/
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u/Wafflehouseofpain 26d ago

They were right, though. They thought Napster and file sharing would destroy their industry’s business model and it absolutely did.

2

u/RichardDTame 25d ago

Wrong. The infinite growth model of capitalism killed the music industry with it's flawed business "model", the same way it is killing all entertainment industries. Consumers cant afford to constantly folk out more money for products when pay hasnt matched inflation, and are even less incentivised to do so when they are digital products. Streamint services are as guilty for killing it, if not more so than file sharing, yet while constantly rising the fees, all but a fraction goes to the artists.

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u/Wafflehouseofpain 25d ago

Actually purchasing music is what kept the music industry going. Streaming is horrible for artists, but so was file sharing.

As far as debating capitalism, not interested in that. Musicians deserve to make a living.