June 10th, 2010 
Cliff Riseborough 
Thom Yorke, front man for Radiohead, believes that the major music labels are on a collision course with an iceberg named collapse. Not exactly surprising in itself, except perhaps for his time frame.
He says, "It will be only a matter of time – months rather than years – before the music business establishment completely folds. (It will be) no great loss to the world."
Yorke warns upcoming musical artists against signing traditional recording deals on the dotted line, as doing so would “tie them to a sinking ship”.
Radiohead broke away from their label in 2007, and have been independent ever since. They actually started the ‘pay what you want’ online release model for music with the initial digital release of their In Rainbows album.
I don’t necessarily agree with Mr. Yorke on his ‘doom within a year’ target, but if the music labels don’t change the way they’re doing things in the digital age, their long term existence does seem to be very much in question.
(Thanks to contactmusic)
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