Feb 26, 2013
48 notes
Growing digital sales helped the music industry increase revenue for the first time since 1999
The transition from physical to digital media hasn’t been a pretty one for the music industry, but it seems that the hard times might soon be over. The International Federation of the Phonographic Industry (IFPI), which is a non-profit organization that represents the worldwide recording industry, just announced that music revenues grew in 2012, the first time that’s happened since 1999. While that’s good news for those who make their money from recorded music, it’s a bit early to call this a full turnaround — revenues only grow a tiny 0.3 percent year-over-year.

Growing digital sales helped the music industry increase revenue for the first time since 1999

The transition from physical to digital media hasn’t been a pretty one for the music industry, but it seems that the hard times might soon be over. The International Federation of the Phonographic Industry (IFPI), which is a non-profit organization that represents the worldwide recording industry, just announced that music revenues grew in 2012, the first time that’s happened since 1999. While that’s good news for those who make their money from recorded music, it’s a bit early to call this a full turnaround — revenues only grow a tiny 0.3 percent year-over-year.

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    Interesting to watch subscription services like Spotify become so important so quickly.
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