tag:blogger.com,1999:blog-3505022452508665567.post3798377641190439949..comments2024-03-28T02:53:44.198-07:00Comments on RETROMANIA: not got a legacy to stand onSIMON REYNOLDShttp://www.blogger.com/profile/01282478701882900354noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3505022452508665567.post-22408513984262568472013-12-23T14:59:19.548-08:002013-12-23T14:59:19.548-08:00Yes, "legacy" has a specific definition ...Yes, "legacy" has a specific definition in corporate jargon: it means a business that the company is in because of its history, as opposed to the exciting new markets that it wants to develop. A classic example - and probably the context when the expression was first used - would be retailers launching trendy online operations to get away from their boring brick-and-mortar legacy business.<br /><br />As you say, it carries an implication that the legacy business still has something going for it. Typically, it generates cash, which can be invested in the more glamorous growth businesses. But it will never be exciting, and usually it is understood that there will come a time for the legacy to be shed, as the company moves into the next (putatively more dynamic) stage of its evolution. <br /><br />As it turned out, that turned out to be an unprofitable approach. The legacy business typically turned out to be an albatross. The winner for books was Amazon not Barnes & Noble, and for music it was Apple, not Borders or HMV.<br /><br />There is also this specific bit of branding, too:<br />http://www.legacyrecordings.com/a/#/home/Edhttps://www.blogger.com/profile/01409303370931148796noreply@blogger.com