Shhh, can you hear the echo from disruption?
It usually sounds like a complaint or an outrage. Then it turns into marvel at a new company’s growth and vision. Finally, it turns into regret for “why didn’t we think of that?”
When someone who has no business being in your business reinvents your business, that’s a “Napster Moment.” Even though Napster is no longer in existence, they inspired the term because they invented the file sharing system that allowed the music industry to be disrupted by Apple.
If you asked the record executives why album sales were on a steady decline, they would have told you it was because they just needed bigger hits. Meanwhile, there was this unscratched consumer itch to listen to only the songs they like, and not the crappy ones. Napster knew this. Apple did too. What did Apple get right that Napster missed? It was that people are willing to pay for music if you make it easy. Now more music is being sold today than ever before, just not only in album/CD form.