With Billions Wiped Out, Music Industry Is Now Digital

[This is another example of a title changing–always check the link title (which is what the author titled the post) compared to the published title (which is what the editor titled the post, sometimes after some pressure).  In this case, the post on The Wrap was changed to “First Time Worldwide, Digital is Music’s No. 1 Business” which is a better fit for the tech booster/Chamber of Commerce crowd, right?]

For the first time worldwide, digital is music’s No. 1 business. The industry makes a fraction of the money it once did.

More people are listening to music worldwide than ever before thanks to streaming services, but as a result the recording industry is making a third less money every year than it did at the peak of the CD era.

Tuesday, the recording industry’s worldwide trade group said revenues grew 3.2 percent last year. After several years of wobbling between minor growth and decline, it’s the first meaningful uptick since 1995, according to the International Federation of the Phonographic Industry, or IFPI…

[3.2% is an “uptick”?]

Read the story on The Wrap

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