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AUSTIN, Texas (AP) –– When discussing the current American music business of affairs, music industry insiders do not hesitate to throw around weighty phrases like “irrevocable change” and “paradigm shift”.

Last Thursday, as the South by Southwest Music began in Austin, the industry representatives met to chart their business’ course and hash out the latest developments.

A lawyer with Washington-based Future of Music Coalition, Walter McDonough, said, “People talk about how the record industry isn't doing that well”.

He added that the music business is working in an entertainment industry that has recently developed three fast-growing media: HDTV, digital downloads, and DVDs.

Panel members said that the availability of digital music over the internet has given a great opportunity for entrepreneurs who can utilise the best online resources.

Mark Cuban, pioneer of Internet Radio and owner of the Dallas Mavericks and HDNet, said that the music industry shifted from a corporate to an entrepreneurial business. Check out ssd performance for info on ways to store your favourite music.

Founder of IRS Records and former head of MCA Records, Jay Boberg, said that the internet primarily remains a distribution channel, and record companies that were successful today should still generate consumer demand for their artists.

Don VanCleave, president of the Coalition of Independent Music Stores, said that despite the proliferation of online music, home grown record stores will continue to be relevant. “All that content is out there, but nobody's telling people what to listen to, what's next, what to buy, what to download. You can have millions of choices, but without some kind of a filter, it's very tough to get turned onto anything new”.