Music Industry Sees First Revenue Increase Since 1999

Zaatxe writes with a bit of news about the music industry; sales are slightly up (basically flat). From the article: "The music industry, the first media business to be consumed by the digital revolution, said on Tuesday that its global sales rose last year for the first time since 1999, raising hopes that a long-sought recovery might have 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 significant encouragement. '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. Now, he added, it could be said 'that digital is saving music.'" Because CDs aren't digital. CD sales are declining, and being replaced by the sale of lossy files. I wonder how much more money they could be making if they'd just sell folks lossless music on the open market (not just iTunes) since at least that's all that keeps me buying a CD or three a year (I own way too many CDs personally, and stopped buying music until discovering Bandcamp and easy lossless downloads rekindled my desire to find new stuff).

Comments

Liberated by Bandcamp

[eldavojohn]

I own way too many CDs personally, and stopped buying music until discovering Bandcamp and easy lossless downloads rekindled my desire to find new stuff

Yes, I've commented on bandcamp many times on Slashdot and have been using it for years now. Actually when this article came up I was listening to an album released on 06 February 2013 by a relatively unknown artist half a continent away. They're asking $7 for a 6 track album which I find to be a little pricey but the music is good. I think I'll listen to it a few more times before I decide if I want to buy it. That's something you'll never find the RIAA doing and although I'd found bands that did it on their sites and a few independent labels do it but Bandcamp centralizes it. I've seen independent labels just dump their whole catalog on Bandcamp so it must do something for sales (Boston's Top Shelf Records just did it and I've been enamored with Slingshot Dakota who I had never heard of before).

I think Bandcamp is close to how an ideal music market should operate. Their selection algorithms and rating listings needs serious work but everyone can play and you select your quality when you download.

CD's ARE digital

[Anonymous Coward]

Last time I checked, CD's are digital. Did that change? Are CD's now analog?