News Summary: Music revenue up, 1st year since '99

The Associated Press
February 26, 2013

SWEET MUSIC: Music industry revenue rose 0.3 percent to $16.5 billion in 2012, the first increase since 1999.

CHASING PIRATES: Online file sharing, such as the Napster service, has destabilized the industry. Music companies reacted with lawsuits and lobbying, but the war on piracy failed to stem the tide of free music. Since its 1999 peak, the global music industry's revenues have fallen more than 40 percent.

DIGITAL DOLLARS: The physical music market, including vinyl records and DVDs, is still contracting. Music downloads from stores like Apple Inc.'s iTunes, and streaming and subscription services, have helped make up for lost ground.