At the close of the “aughts” few in the music industry looked back with nostalgia. The next decade appeared uncertain. Tom Silverman, a label executive, visionary and friend would talk about the billions of consumers around the globe who would soon pay for music. But it was hard to see that happening as we welcomed in 2010. Turns out Tom was right.
The music industry experienced a rebound in revenues and investment during the past decade. Both the RIAA (US) and IFPI have reported healthy gains in recorded music revenue over the past three years. This year, 2019, may be the best sales-wise in the US since 2006. The recovery has been an interesting journey; one you won’t think of as you ask Alexa to play your favorite holiday music on your favorite streaming service. But, oh have we changed as music consumers.
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