Skimming through a few unopened e-mails from last week, I find this startling item via TechDirt:
Let me repeat that: despite all of the whining and complaining about the state of the music industry, some of the music industry’s own economists are admitting that the market is growing.
Not surprisingly, it found that retail product sales have declined, but the other parts of the industry have grown noticeably more than the decline in retail sales. This growth has come from a few sources. Live show attendance has increased more than retail sales have decreased. Consumers have actually spent more. On top of that, the business to business side of the industry (sponsorships, licensing, advertisements, etc.) has grown as well, opening up new and lucrative means of making money.
This is encouraging to read. What with all the “free” music I’ve been listening to lately via Lala.com, I’ve been wondering, “so, where’s the money going to come from?” to support all these emerging (and even the established) musicians who are drifting around in my Celestial Jukebox.
OK, so, maybe the cash-flow isn’t coming from direct “sales” of music, but the study cited in this article does seem to be saying that it’s coming from….. somewhere. Whew.