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Battered music industry is reviving Your news how you want it.
On the go and no time to finish that story right now? Your News is the place for you to save content to read later from any device. Register with us and content you save will appear here so you can access them to read later. New Zealand Regional News pandora bracelets on sale Sport Business Property Technology World Opinion Entertainment Lifestyle Travel Rural Driven Motoring Photos Puzzles Quizzes Classifieds Crime Politics Health News NZ Herald Focus Infographics Property Weather NZH Local Focus The Northern Advocate The Northland Age The Aucklander Hamilton News Bay pandora outlet online of Plenty Times Hawke's Bay Today Rotorua Daily Post Wanganui Chronicle Stratford Press Manawatu Guardian Kapiti News Rugby League Cricket Football Netball Basketball Golf Motorsport Sailing Hockey Tennis Bowls UFC Boxing Athletics Triathlon Racing American Sports Small Business Business Opinion Personal Finance Currency Table Economy Business Travel Deloitte 200 Property Herald Homes True Commercial Spy TV Movies Books Music Culture Sideswipe Fashion Beauty Food Drink Relationships Wellbeing Pets Animals Bite Viva Canvas Horoscopes Africa Americas Asia Australia Europe Middle East NZ Travel Pacific Sudoku Codecracker Crosswords Wordsearch Daily quizzes Super Rugby All Blacks Lions Tour Rugby Champs NPC Six Nations Black Caps Domestic Cricket F1 V8 Rallying NZ Motorsport Indycar Motorcycling Speedway NASCAR Drifting Driven Motoring Recipes Restaurant Reviews After almost two decades of relentless decline caused by piracy and falling prices, the music business is enjoying a fragile recovery thanks to the growth of paid streaming services like Spotify and Apple Music. industry is on pace to expand for the second straight year the first time that's happened since the CD sales peaked in 1998 and 1999. Retail spending on recorded music grew 8.1 percent to $3.4 billion (NZ$4.64 billion) in the first half of 2016, according to a midyear report from the Recording Industry Association of America that was obtained by Bloomberg News. The credit goes to streaming Internet services that give listeners commercial free access to millions of songs for a monthly fee, or for free if they're willing to hear ads. streaming revenue grew 57 percent to $1.6 billion ($2.19 billion) in the first half of 2016 and accounted for almost half of industry sales. and Blink 182. "It's absolutely a step in the right direction."The results can be seen in the financials of music companies big and small. The three major record labels Vivendi SA's Universal Music Group, Warner Music Group, owned by billionaire Len Blavatnik, and Sony Music Entertainment have all reported gains this year. BMG, a smaller label and publisher, reported a 4.6 percent sales increase for the first half of the year. The industry is reluctant to declare victory. Annual sales have hovered around $7 billion for six years, down by half from the 1999 peak, according to RIAA data. Meanwhile the labels are still negotiating new contracts with Google Inc.'s YouTube and Spotify, two of the largest purveyors of free music in the world. pple Inc. co founder Steve Jobs convinced record labels that iTunes would save the industry from piracy, only to vaporize album sales by selling singles instead. Photo / Bloomberg pple Inc. co founder Steve Jobs convinced record labels that iTunes would save the industry from piracy, only to vaporize album sales by selling singles instead. Photo / Bloomberg Share on Pinterest Show more facebook Share on Twittertwitter Share via email email Share on LinkedIn linkedin Share on Google Plus google plus Share on Whatsapp whatsapp Share on Pinterest pinterest Share on Reddit reddit While sales from ad supported, on demand streaming grew 24 percent to $195 million in the first half of 2016, according to the RIAA report, those services aren't doing enough to convince people to pay for music and and don't make enough money off their free users, RIAA Chairman Cary Sherman said in a blog post. "Many services rake in billions of dollars for themselves on the backs of music's popularity but pay only relative pennies for artists and labels," Sherman wrote. "Pirate sites operate with seeming impunity." Nor is pandora jewelry buy this the first time pandora watches australia new technology has come along to get people to pay online. Apple Inc. co founder Steve Jobs convinced record labels that iTunes would save the industry from piracy, only to vaporize album sales by selling singles instead.
Yet Apple is no longer the only player in the market for digital music. Spotify operates a larger paid subscription service and has showed no signs of slowing down since Apple Music began competing in that market. Most of the users for Apple Music are people new to paying music, not former Spotify customers, according to label executives.
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