Music sales have been flagging for years with the advent of file-sharing services that allow users to download songs "for free" (but illegally). After unleashing aggressive attorneys and taking loads of money in court cases from teenagers and generally innocent people, the industry's cut-throat tactics appear to be paying off. The industry saw a jump in global sales last year for the first time since 1999, making some in the field hope that it signals a change from the past decade-plus of stagnation.
To be fair, the increase was modest - just 0.3% to be exact. But the total revenue for the year was $16.5 billion. Apparently, the industry has digital revenue to thank for the move. As a benchmark, it's worth noting that $38 billion is the total sales figure from the best revenue year in recent history, so this turnaround has a way to go still.
"It's clear that 2012 saw the global recording industry moving onto the road to recovery," said Frances Moore, chief executive of the federation. "There's a palpable buzz in the air that I haven't felt for a long time." For years, it has appeared as though the music industry was simply going to vanish, perhaps evidenced by the dearth of actual talent on the airwaves in the modern day. "At the beginning of the digital revolution it was common to say that digital was killing music," said Edgar Berger, chief executive of the international arm of Sony Music Entertainment. He added that now it can be said "that digital is saving music."
To be fair, the increase was modest - just 0.3% to be exact. But the total revenue for the year was $16.5 billion. Apparently, the industry has digital revenue to thank for the move. As a benchmark, it's worth noting that $38 billion is the total sales figure from the best revenue year in recent history, so this turnaround has a way to go still.
"It's clear that 2012 saw the global recording industry moving onto the road to recovery," said Frances Moore, chief executive of the federation. "There's a palpable buzz in the air that I haven't felt for a long time." For years, it has appeared as though the music industry was simply going to vanish, perhaps evidenced by the dearth of actual talent on the airwaves in the modern day. "At the beginning of the digital revolution it was common to say that digital was killing music," said Edgar Berger, chief executive of the international arm of Sony Music Entertainment. He added that now it can be said "that digital is saving music."
