• Music sales rise after 13-year slide
    February 27,2013
    • Email Article
    •  
    •  Print Article
     
    The music industry, the first media business to be consumed by the digital revolution, said Tuesday that its global sales had risen last year for the first time since 1999, raising hopes that a long-sought recovery might have finally begun.

    The increase, of 0.3 percent, was tiny, and the total revenue, $16.5 billion, was a far cry from the $38 billion that the industry took in at its peak more than a decade ago.

    Still, even if it is not time for the record companies to party like it’s 1999, the figures, reported Tuesday by the International Federation of the Phonographic Industry, provide a significant psychological boost.

    “It’s clear that 2012 saw the global recording industry moving onto the road to recovery,” said Frances Moore, head of the federation. “There’s a palpable buzz in the air that I haven’t felt for a long time.”
    • Email Article
    •  
    •  Print Article
    2 Comments
    MORE IN National / World Business
    SAN FRANCISCO — Google is refining its famous logo as it prepares to become a part of a new... Full Story
    Google refines logo as it prepares to join Alphabet
    ANN ARBOR, Mich. — India’s largest SUV maker is ready to make its debut on U.S. roads. Full Story
    India SUV maker rides into US market ... on a scooter
    More Articles