The man behind the Sex Pistols is the latest music industry type to predict the demise of the record label in the digital age.
Speaking at an event promoting UK music at the British Consulate in New York, Malcolm McLaren said the way the internet enables artists to self-distribute their music and connect with fans was "making music authentic again", and that the ubiquity of content on the net meant that live music would become the dominant sector within the music business, spelling the end of the record company.
Speaking to NME at the event, he said: "No one cares about selling units any more. All record labels will end up closing eventually because no one wants actual CDs anymore. You can get whatever you want on the internet for nothing now. The experience of seeing a band or artist perform in front of you is what is valued today and that's why live entertainment is having such a boom at the moment".