Recorded Music Industry is Finally Recovering

by Nikolozi Meladze

IFPI Digital Music Report 2013:

Global recorded music industry revenues rose by an estimated 0.3 per cent to US$16.5 billion in 2012, the first year of industry growth since 1999. Digital revenues saw accelerating growth for the second year running, up 9 per cent, with most major digital revenue streams - downloads, subscription and advertising-supported - on the rise.

It took music industry 13 years to come to its senses. Imagine if it had embraced evolution in technology earlier, everybody would have been happier. We would have had Spotify like music streaming services and people wouldn't have resorted to piracy.