Maybe music executives can finally stop singing the blues. Music piracy is on the decline, analysts say, while an industry group said digital music sales in 2012 drove global music industry revenues up for the first time since 1999.
It’s not a very big gain for the music industry — just 0.3 percent to $16.5 billion — but even that small uptick may be a sign that digital music has finally put the industry on the path to recovery. Digital music and services, the report said, grew 9 percent in the past year. That comprises digital downloads, as well as newer subscription services such as Spotify and ad-supported services including Pandora.
“No doubt, this is welcome news,” said Recording Industry Association of America spokesman Jonathan Lamy, who said over half of the industry’s revenues come from digital services now. “We are starting to turn the corner, and that’s great news for the business and fans.”