Music Business Faces New Challenges in Shift to Streaming

The music industry has experienced an increase in streaming revenue and a resurgence in vinyl record interest. However, “a closer look shows that the big sales numbers that have sustained the recorded music business for years are way down,” reports The New York Times. According to the Recording Industry Association of America, sales revenue for music in the U.S. has remained around $7 billion since 2010. During that time, streaming via Pandora, Spotify, YouTube and others has been taking over CDs and downloads, as the “music industry finds itself fighting over pennies while waving goodbye to dollars.”

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