Napster Extinction Named Biggest Company Screw-Up Of All Time
Tuesday, 18 March 2008
In a recent list devised by the popular music read, creator Shawn Fanning's file-sharing service should have been seen as a way to attract millions of users to a saleable platform, which was rejected by the RIAA (Recording Industry Association of America) - even after a billion-dollar settlement offer - who proceeded to sue the program from the face of the planet in 2001.
The knock-on effect ensured many users dispersed to other P2P programs, costing the music industry almost triple the business it would have enjoyed for its labels and artists.
Other notable mentions on the list include a rejection from a label for The Beatles, which was stated with the now famous rejection line: "Groups with guitars are on their way out."
Check out the complete list here: Blender Tags