Well, its not really…. its not a threat to the media industry, it is becoming the media industry. I guess you could say it is a threat to the old media industry. Article here.
“Media and entertainment executives see the growing ability and eagerness of individuals to create their own content as one of the biggest threats to their business”
Faxon, of EMI Music Publishing, said the music industry is moving “from a sales model to a consumer consumption model or participation model, where its economics are predicated on the use patterns of consumers as opposed to the purchase patterns. In essence the commercial roles of music companies will be more as facilitators for bringing music and the rights that support them in to the market place, as opposed to being originators of the content itself.”