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Record Executives Literally Cannot Give CDs Away

January 14, 2008 1:11 PM ET

Looking for a moment when the music business truly knew its goose was cooked? Here's a harrowing anecdote from the new issue of The Economist's story about the industry's awful year. In 2006 some EMI executives invited a group of sixteen-year-olds to pick their brain about music:

At the end of the session the EMI bosses thanked them for their comments and told them to help themselves to a big pile of CDs sitting on a table. But none of the teens took any of the CDs, even though they were free. "That was the moment we realized the game was completely up," says a person who was there.

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Song Stories

“Bleeding Love”

Leona Lewis | 2007

In 2008, The X Factor winner Leona Lewis backed up her U.K. singing competition victory with an R&B anthem for the ages: "Bleeding Love," an international hit that became the best-selling song of the year. The track was co-penned by OneRepublic's Ryan Tedder (whose radio dominance would continue with songs such as Beyonce's "Halo" and Adele's "Rumour Has It") and solo artist Jesse McCartney, who was inspired by a former girlfriend, Gossip Girl actress Katie Cassidy. Given the song's success, McCartney didn't regret handing over such a personal track: "No, no," he said. "I'm so happy for Leona. She deserves it. There are really no bad feelings."

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