For instance, Pandora negotiated a disadvantageous royalty agreement back in 2009 when it was a start-up. Now, it has 70 million active users and its royalty fees during recent quarters has devoured at about 55% of Pandora's revenue.
But step back, and there is good for the music industry as a whole. In 2012, global record music sales rose, albeit just 0.3%, for the first time in 13 years. From overall sales of $16.5 billion, digital music sales hit $5.6 billion and increased 10%. The industry may have finally turned a corner.
To get a sense of how digital technology has radically reshaped the contours of the U.S. music business, check out these charts down below, courtesy of Statista.
The post The music industry gets its groove back appeared first on Smarter Investing
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