Booming Chain News Today : Breaking News, Live Updates & Top Stories | Vimarsana

♪ cry me a river >> justin bieber was the first of the youtube kids. he was using the new tools of the internet to really do an end run around the traditional industry. ♪ and i was like baby baby baby oh ♪ ♪ like baby baby baby no >> the 2000s, the music industry was undergoing a massive shift with the technological change and the fact that the price of music had effectively been ground down to zero. >> i'm standing outside where i used to buy cds, a store shut down as you can tell. >> by the end of the decade, the music business was falling off a cliff. it seemed like all of it was go...

>> justin bieber was the first of the youtube kids. he was using the new tools of the internet to really do an end run around the traditional industry. ♪ and i was like baby baby baby oh ♪ ♪ like baby baby baby no >> the 2000s, the music industry was undergoing a massive shift with the technological change and the fact that the price of music had effectively been ground down to zero. >> i'm standing outside where i used to buy cds, a store shut down as you can tell. >> by the end of the decade, the music business was falling off a cliff. it seemed like all of it was gone, reduced to rubb...

The death of a once booming chain, and another nail in the coffin of the music cd. >> by the mid-2000s, music labels realized that youtube, my space and file sharing software was the way people were discovering new music. what do you do? you get all of the people you've heard online together in one act and you charge $130 to see it. this proved to be a very successful model. ♪ >> the one that really set it off was bonaroo and coachella. >> so you came here from england for this. >> for the festival, man. why not? coachella. >> the same generation wants to be somewhere in a field with that pe...

Chain, and another nail in the coffin of the music cd. >> by the mid-2000s, music labels realized that youtube, my space and file sharing software was the way people were discovering new music. what do you do? you get all of the people you've heard online together in one act and you charge $130 to see it. this proved to be a very successful model. ♪ >> the one that really set it off was bonaroo and coachella. >> so you came here from england for this. >> for the festival, man. why not? coachella. >> all of a sudden that same generation that's discovering music peer to peer online wants to be...

♪ cry me a river >> justin bieber was the first of the youtube kids. he was using the new tools of the internet to really do an end run around the traditional industry. ♪ and i was like baby baby baby oh ♪ ♪ like baby baby baby no >> the 2000s, the music industry was undergoing a massive shift with all the technological change and the fact that the price of music had effectively been ground down to zero. >> i'm standing outside where i used to buy my cds, a store shut down as you can tell. like so many other music stores across the country. >> by the end of the decade, the music busine...