MTV calls 2007 "The Year The Music Industry Broke"

As the end of the year approaches, it's time for the appropriate amount of reflection. The latest look back on the previous year comes from MTV who seem ready to write the music industry's obituary. Their new article examines the declining power of the major label, and examines some high profile defections including Trent Reznor, Madonna and (of course) Radiohead.

According to Nielsen SoundScan, album sales were down 15 percent from 2006 (a trend that's continued for eight straight years now); big–name artists jumped ship in increasingly complicated -- and messy -- ways; and the powers–that–be seemed to get even more heartless and disconnected, thanks to a series of lawsuits, feuds and terrible decisions.

You can check out the feature here.

Those of you in the industry should start figuring out the grand idea that will save music, those of you in this band's t–shirt can probably start gloating.