Back in Time
Michael D. Smith, Rahul Telang · 2016
Not long ago, a leader in one of the entertainment industries delivered a talk to our class. He provided us with valuable perspective on the nature of his business and the challenges it faces today, but at a certain point he said something that gave us pause. We were discussing the rise of the Internet and its effects on his industry, and someone asked if the Internet might threaten the market power of the small group of “majors” that had ruled the business for decades.