eMarketer is reporting that the music industry's revenues are continuing to rise at a healthy and steady pace. What? I thought the RIAA said that everyone was punishing the artists by illegally downloading music and that the industry was losing millions of dollars. Wrong.
You see, where CD sales and music services fail, tours, music licensing, and Sub Pop songs on Grey's Anatomy more than make up for the lost revenue. Hell, eMarketer is even reporting that hoodie, t-shirt, and P.Diddy thong sales more than make up for the CD sales as well.
Let's crunch some numbers shall we?. According to eMarketer, the music industry is growing at an average annual rate of 2.8% a year. Essentially that means in 2006 the industry made $23.1 billion, and in 2011, the industry will make around $26.5 billion. How 'bout that?
This writer rejoices that the music industry is doing so well but is throughly confused as to why the RIAA has to suck so fucking bad. It's frightening to think that the RIAA and their ass coalition of record labels will go so far as to try and lie, spin the truth about CD sales, and scare people with their outlandish threats.
So, there you have it; it took a research company to figure out the RIAA is wrong and that the music industry has huge growth potential. Now if I can just hire a research company to check out this growth on my ass.