Companies that once revolutionized and dominated new industries – for example, Xerox in copiers or Polaroid in instant photography – have seen their profits fall and their dominance vanish as rivals launched improved designs or cut manufacturing costs. In technology, the cassette tape replaced the 8-track, only to be replaced in turn by the compact disc, which was undercut by downloads to MP3 players, which is now being usurped by web-based streaming services.Warner Music reveals streaming income has overtaken downloadsThe Guardian, Tuesday 12 May 2015 Companies that made money out of technology which eventually becomes obsolete do not necessarily adapt well to the business environment created by the new technologies.
Companies that once revolutionized and dominated new industries – for example, Xerox in copiers or Polaroid in instant photography – have seen their profits fall and their dominance vanish as rivals launched improved designs or cut manufacturing costs. In technology, the cassette tape replaced the 8-track, only to be replaced in turn by the compact disc, which was undercut by downloads to MP3 players, which is now being usurped by web-based streaming services.Warner Music reveals streaming income has overtaken downloadsThe Guardian, Tuesday 12 May 2015 Companies that made money out of technology which eventually becomes obsolete do not necessarily adapt well to the business environment created by the new technologies