They haven't kept up as music evolved from selling CDs to streaming songs to promoting concert tickets and merchandise.
"Compared with vinyl and CD production, streaming gives the labels incredibly high margins, but the labels act as though nothing has changed," he wrote.
(In the U.S., the album is only on CD, not streaming; here are some sound samples, and here's a taste of the band's studio album "United").
Tidal, which aims to provide CD-quality streaming, offers subscribers access to 25 million tracks, 75,000 music videos and other content including artist interviews for £19.99 per month.
It's not enough, for some listeners, to have a good turntable, CD player, streaming box, pre-amplifier, amplifier, phono stage, speakers, and top-shelf wires connecting them all together.
The site launches on Monday, promising CD-quality streaming and thousands of music videos, for a subscription fee.
A second tier at $19.99 monthly will offer CD-quality streaming, HD videos and access to the service's original editorial products.
"More people share music through burned CDs than streamed playlists," he said, citing a stat he heard from a music executive last year.
Rising up on the folk-rock charts, New York City-based "Metrobilly" band 2/3 Goat has just released a foot-stomping, evocative and inspiring video performance from their breakthrough new CD, Stream of Conscience.
Mr. Vanderbilt likened it to the difference between paying to acquire and "park" a huge collection of CDs and simply streaming the music you want, when you want it, from the Internet.
