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.”MORE IN National / World BusinessWASHINGTON — Pressure is on Congress to act in the next two weeks on several problems, from... Full StoryNEW YORK — Solid earnings for a range of big companies helped nudge the stock market higher on... Full Story
- Most Popular
- Most Emailed
- TODAY'S WEATHER MINUTE: Rutland Herald content editor Rich Alcott shares local weather information and easily digestible news tidbits: America's feet getting bigger than ever, and Americans keep jamming their feet into small sized shoes. Wake up, America!
- RICHARD'S POOR ALMANACK: Vanessa Williams resigns from Miss America pageant after Bob Guccione publishes nude photos of her in Penthouse magazine and Hefner takes the high road; on this day in 1995, Alan Hale and Thomas Bopp discover a new comet.
- TOMORROW'S HEADLINES TODAY: Brandon voters decide fate of proposed budget, calls to police for service on complaints have fallen to new low, city woman who spray painted a response to vandals on her sidewalk is cited for mischief.
- TODAY'S WEATHER MINUTE: Rutland Herald content editor Rich Alcott shares local weather information and easily digestible news tidbits: When all the big mammals are rubbed out and a faint geologic memory, rats the size of human beings will stalk the Earth.
- TOMORROW'S HEADLINES TODAY: National survey ranks Vermont kids' well-being in second place, Springfield takes up anti-loitering ordinance, Rutland debate taxis, Fair Haven woman is arrested in Rutland for prostitution.
- TODAY'S WEATHER MINUTE: Rutland Herald content editor Rich Alcott shares local weather and news: Research scientists say schizophrenia and marijuana use linked. Are marijuana smokers schizophrenic or are schizophrenics more disposed toward marijuana use?