The new gatekeepers: Streaming platforms are taking over the music industry

In 2012, when EMI sold to Universal and Sony, then-CEO Roger Faxon told reporters  that "major record labels, if they ever were, are no longer the gatekeepers. It's the music that matters, not the source anymore. You don't have to have a [major label] to produce an album anymore. The power now is with consumers, not labels."

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