The Music Industry Is Up In Sales For The First Time In Over A Decade
Author: Jessica Rawden
published: 2013-02-26 20:45:12
For the first time in more than a decade, the music industry posted gains during the fiscal year. The industry federation, which looks at sales worldwide, has compiled the figures for 2012 and has determined the numbers are up over the previous year for the first since 1999. Of course, the industry still has a long way to go if it even wanst to consider dreaming about the money that was brought in during its heyday.
The increase in sales in 2012 showed a gain of .3%, which is hardly anything to write home about. However, the key here is that there werenít losses in the music industry this year, meaning the industry could very well be taking its first baby steps to recovery. With growth in areas like Appleís iTunes and services like Spotify, the music industry might continue to move forward, even if it doesnít reach that $38 billion peak it reached a little more than a decade ago.
Thanks to artists from Rihanna to Bruno Mars and even the likes of Psy and Macklemore & Ryan Lewis, last yearís sales reached $16.5 billion. According to the NY Times, those numbers might even grow more rapidly should China and Russia manage to curb their rampant piracy problems. Iím not saying now is the best time to jump in and try to find a job in the music industry, but itís no longer the worst time, either. Just like other industries that are facing the need to go digital to stay relevant, jobs have begun to change rather than simply bottom out.