With the exception of cd and mp3 player sales, Wired magazine's Chris Anderson believes the record industry is doing just fine.
According to Anderson, concerts and merchandise sales are up 4%, sales of digital tracks up 46%, sales of vinyl singles doubled in Britain. Sales of ringtones was up 86% last year, saw but single-digit growth this year and Warner Music raked in $20 million last year for licensing for commercials, TV shows, movies, and games. Ipod sales are up 31% this year. It'''s just those darned CD sales (with mp3 player sales included) that were down 18% last year.
Hypebot'''s Bruce Houghton thinks record companies must become ''"music companies''" to compete and new and pioneering models are cropping up all the time. Houghton wonders, ''"the major labels have the resources, but do they have the will? And beyond low risk partnerships with the artist what real innovation do we see at the indies?''"
[Via: Hypebot - "Believe It Or Not, The Music Industry Is Growing"]