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Recording Industry Manages a Sliver of Growth for the First Time Since 1999

Illustration for article titled Recording Industry Manages a Sliver of Growth for the First Time Since 1999

Global recorded music revenues grew .3-percent to $16.5 billion last year, marking the first increase since 1999. That's the year, you'll remember, that Napster and file sharing brought the industry to its knees.

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According to the report from the IFPI, growth is being driven by digital revenue, which was up 9-percent in 2012. That digital sales accounts for $5.6 billion in revenue, which is just over one-third of the total. A full 70-percent of the digital total comes from online download stores like iTunes, which means that despite their millions of users, subscription-based services like Spotify and Pandora aren't generating nearly as much industry-sustaining revenue as some of them would have you think.

Either way, growth is growth. Congrats to the music industry on its .3-percent bump. Don't spend it all in one place. [IFPI via AllThingsD]

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Image via R. MACKAY PHOTOGRAPHY, LLC/ Shutterstock.com

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DISCUSSION

So i know this guy.. who pirated almost all of his music collection ever since the mp2 format in the early 90s (and he still has a few mp2's laying around from back then!), and believe it or don't, but this guy BOUGHT a ton of music this past year. I would say the majority of people i know who have not paid for music in YEARS, have all paid for at least "something" over the last year. I think much of the services going DRM free was a big push, coupled with 256kbps+ and loss-less formats. Also getting things early is a nice bonus. Not to mention, and perhaps this goes to the credit of the copyright holders having things pulled down, having some things that are just harder to find through less than legitimate channels.