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The great depression in the popular recording industry that began in 1979 still continues. There are signs, however, that the industry is adjusting to new technologies and may soon revive. R. Serge Denisoff documents the decline and possible revival of this comprehensive study of the recording business, a sequel to his widely acclaimed Solid Gold: The Popular Record Industry.

Denisoff offers a brief history of popular music and then, in detail, traces the life cycle of a record, beginning with the artist in the studio and following the record until its purchase. He explains the relationships between artist, manager, producer, company, distributor, merchandiser, and media. They all play roles in the scenario of a hit record. He also discusses the new technologies and how they may affect record sales, especially round-the-clock rock and roll on cable television. Tarnished Gold joins Solid Gold as a staple in the popular culture literature.