Music Sales Rise For The First Time Since 1999

Moneybox
A blog about business and economics.
Feb. 26 2013 4:27 PM

Music Sales Rise for the First Time Since 1999  

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This epic decline of the music industry has occurred during a period of time when it's never been easier for music fans to find new music to listen to

Photo by Matt Kent/Getty Images

The International Federation of the Phonographic Industry reports today that last year "global recorded music industry revenues rose by an estimated 0.3 per cent to US$16.5 billion in 2012, the first year of industry growth since 1999" with digital revenue growing 9 percent.

That's good news for the music industry, but also a sobering reminder of the extent of the collapse. But what I think is really important to remember is that this epic decline of the music industry has occurred during a period of time when it's never been easier for music fans to find new music to listen to. It's a great example of how the health of an industry as a generator of profits can become completely detached from actual human welfare.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.