Are Compact Discs the New 78s?

The CD was a boon for the record industry. Not only did record labels cash in when music buyers replaced their cassette tapes and vinyl records with discs, but the CD also helped prevent unauthorized copying--at least initially. CDs also discouraged people from buying singles, prompting them to purchase full albums instead.

The plant closure is just another sign that physical media's days are numbered. In addition to music, the film and book industries are amid their own digital transformations. Netflix and Apple are helping to fuel the emergence of Web TV. The Kindle and iPad are helping to drive consumer interest in e-books. How far this goes is anybody's guess but one has to wonder how long printed books and DVDs will be with us. [Source]