Gotta love that record industry

From Techcrunch..

Record Industry Proves Again How Much They’ve Lost The Plot:

recordindustry.jpg“Warning: this is so stupid you might need to be sitting down.

The latest brainwave from an industry that continues to bleed revenue is the Ringle: a product that combines the single format with ringtones.

Each ringle will contain three songs: one popular track, a remix, an older track from the same artist and a ringtone. Distribution method for the Ringle: a CD with a slip-sleeve cover.

Reuters reports that the idea is that if consumers can download any ringtones they want, why not let them buy them on CD.

Sony BMG Music and Universal Music Group will release 50 and 20 titles respectively in October and November. The CD’s will sell for either $5.98 or $6.98. Distributors will include BestBuy, Wal-Mart, Target and Amazon.

I’m nearly speechless. The CD Single is dead and the Record Industry believes that people will spend near $7 on buying a Ringtone and single on a CD. I think the multitude of Ringtone sellers and even Apple has nothing to worry about.”

(image credit: icanhascheeseburger)

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(Via TechCrunch.)

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