The music business has finally come to terms with file-sharing, according to executives at the Midem conference in Cannes. But now they have a different problem.
Until recently, the music industry was in a blind panic about illegal peer-to-peer downloading.
Millions upon millions of fans are spreading music around the world, and the people who made and own it don’t see a dime.
A vast 95% of all digital music comes from unlicensed sources, according to a recent estimate from the global trade body the IFPI.
But the blind panic now seems to have stopped.