The music business has been in decline for the last seven years. CDs are not selling in the numbers they used to, which is a worry for the record industry as well as retailers.
The slump in CD sales has hit record industry profits
The online revolution took the record industry by surprise and it has been playing catch-up ever since.
"I think the music industry has to accept its fair share of the blame for not acting quickly enough to digital music," said Adam Benzine from Music Week magazine.
"There was a feeling in the music industry around 1998 when Napster first came out, well, there was simply a feeling of bewilderment and confusion.
"What is this thing, how do we deal with it and, more importantly, how do we turn it off? How do we stop people putting music on the internet, rather than how can we monetise this and how can we embrace this?"
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