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The London riots have hit the music industry hard. A North London warehouse owned by Sony DADC burned to the ground on Monday, and while Sony may have deep pockets, many of the smaller independent labels that stored stock at the facility do not. The fire destroyed CDs, DVDs and LPs distributed by the Pias Group. Pias serves over 160 indie labels including Domino, 4AD, Warp, Sub Pop and Chicago's own Thrill Jockey, which estimated a loss of $300,000 worth of inventory. For small labels dependent on merch sales to survive, it could be a fatal blow. A relief effort is underway at Label Love. Whether music fans' goodwill will be enough to keep these labels afloat remains to be seen.

Big changes are underway at everyone's favorite industry lobbying group. RIAA CEO Mitch Bainwol has announced he will cede the throne after a decade of leadership to become head of the Alliance of Automobile Manufacturers. He'll be replaced by Cary Sherman. Word of the change came in the form of a dumbfounding open letter, in which Bainwol proclaims a“turnaround”in the music industry's fortunes and cites some interesting statistics. He claims a 20% reduction in illegal filesharing last year and a 5-to-1 ratio of legal to illegal music consumption - numbers that Greg says fly in the face of all the stats he's seen on this. Bainwol also cites a 4% increase in revenue last month - no mention, of course, of the music industry's bottoming-out over the last decade.

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