• A joint study by PricewaterhouseCoopers, the IFPI and Singapore-based Soundbuzz predicts the global music industry's physical product revenue will drop 61% by 2009. (BusinessWeek.com)

• Amp'd Mobile, a mobile carrier with a music and video slant, has filed for Chapter 11 bankruptcy. Universal Music Group is one of the companies that funded $360 million that started Amp'd. (Wall Street Journal)

• A few news items on online music service Slacker: The company released a desktop application that allows users to manage their entire music collections. (Update: OK, not so new. I thought there was a new update, but maybe not.) In addition, Slacker just got $40 million in second round funding.

• PIAS America has signed with Universal's Fontana Distribution after a short run with EMI's Caroline Distribution. (Billboard.biz)

• CMT.com's Chet Flippo bids country radio goodbye and welcomes custom country radio (he's a Sirius fan). "I'm sorry, my friends in country radio, but I have long since moved on. No more commercials, no more wacky stunts, no more same 20 songs." I mention this only because country is bound at the hip to terrestrial radio. When that goes, chaos will ensue. (CMT.com)