I'm younger than most of you in this room, and I barely remember the 8 track tape and own no 78s. I'm sure that many in the industry were afraid of cassettes, the way many here today are afraid of Compact Discs. But, we can't allow our industry to fall behind the technology curve and must recognize the potential for increased revenues, rather than worrying about killing off an obsolete media.
Kim Richards addressing the Recording Industry Association of America Technology Committee, of which he was a member at the time CDs were adopted.