Missing the Moment File-sharing caught the music industry unprepared 25 years ago.

The article focuses on the disruptive impact of Napster, a pioneering file-sharing software launched in 1999, on the music industry. Napster enabled millions of users to share MP3 music files freely, challenging the industry's traditional reliance on physical media sales and prompting intense legal opposition from the Recording Industry Association of America (RIAA) and artists like Metallica. Despite Napster’s bankruptcy in 2001, its legacy persisted through subsequent owners and helped catalyze the shift toward digital music consumption, including streaming services such as Spotify. The music industry’s initial legal resistance is characterized as a missed opportunity to adapt to technological change, with profitability in the digital era only restored decades later as social mood and business strategies evolved.