A revolution has occurred in the way music is distributed, and the big record companies are in a state of panic. With an abundance of music now available free on the Internet, the major labels have essentially lost control of their catalogs. But they are not casualties of new technology so much as victims of their own arrogance.

These days, it's possible for anyone with Web access to download hours of music in an audio format known as MP3. The downloaded music is of surprisingly good sound quality and can be played out of computer speakers or on a special portable player. In just six months, MP3 music has grown from a fad to a phenomenon.

A large percentage of MP3 music on the Internet has been bootlegged from compact discs and is being offered by music fans to other music fans. The record industry is justifiably angry over this violation of its copyrights. Yet it doesn't seem to comprehend what's driving the MP3 boom.