EMI Music CEO: "The CD Is Dead!"

[DudeAsInCool]

LONDON (MarketWatch) -- EMI Music Chairman and Chief Executive Alain Levy Friday told an audience at the London Business School that the CD is dead, saying music companies will no longer be able to sell CDs without offering "value-added" material.

"The CD as it is right now is dead," Levy said, adding that 60% of consumers put CDs into home computers in order to transfer material to digital music players. But there remains a place for physical media, Levy said.

"You're not going to offer your mother-in-law iTunes downloads for Christmas," he said. "But we have to be much more innovative in the way we sell physical content."

Record companies will need to make CDs more attractive to the consumer, he said. "By the beginning of next year, none of our content will come without any additional material," Levy said.

Read more at Marketwatch: London

If they had paid more attention to the consumer, they would have realized this when the DVD came out!