For the first time in 14 years, music sales are up by the slimmest of margins\u2014just 0.3 percent. Even better, piracy reportedly fell by 17-percent overall in 2012, meaning the music industry is getting a double-dose of good news. The changes are attributed, of all things, to the evolving Internet. More specifically, streaming services like Pandora and Spotify, which isn\u2019t much of a surprise.<\/p>\n
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According to a few new studies, one from the IFPI Digital Music Report and the other from NPD group, streaming subscription services saw a 44 percent increase in 2012, while global digital revenues hit $5.6 billion during the same year. The proliferation in available streaming lead to half of file sharers to either stop or reduce their pirating activity altogether, NPD said.<\/p>\n
\u201cThe music industry has adapted to the internet world, learned how to meet the needs of consumers and monetised the digital marketplace,\u201d said IFPI executive Frances Moore.<\/p>\n
The streaming models obviously works; it\u2019s no wonder why companies like\u00a0Apple\u00a0and\u00a0Google\u00a0want a piece of the action.<\/p>\n