Music industry sees first year of growth in 13 years

27 February 2013, 13:16 | Written by Luke Morgan Britton

(News)

Good news for all muso types, as the music industry is said to have experienced its first year of growth since 1999, albeit a somewhat minor increase.

The Hollywood Reporter report on studies by the International Federation of the Phonographic Industry which show that revenue rose by 0.3% during 2012, culminating in $16.5 billion worth of profit.

This is said to be due a decrease in filesharing, as other reports say illegal downloading has dropped from 20% in 2006 to 11% six years later.

There’s also been a 26% decline in the amount of music that those who fileshare do download.

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