MUSIC INDUSTRY REVIVAL
The Chart of the Day shows the trends and distribution of US music industry revenues since 1978. The top year of the industry was 1999 in terms of revenue: the CD-peak. In the following period, illegal Internet music sharing (namely, the launch of Napster in 1999) let the spirit of piracy out of the bottle and significantly reduced the money coming in.
In this regard, the Recording Industry Association of America (RIAA), the music industry lobby, has been announcing the death of the sector and the need to criminalize piracy for roughly 15 years. The process even inspired South Park at the time, in the legendary episode "Christian Rock Hard" (Season 7, Episode 9). FBI commandos take in the boys for downloading a few songs. They are shown - among other things - that Metallica's drummer Lars Ulrich (Metallica sued Napster in 2000) will have to wait for a few months for his new gold-plated shark tank bar next to his pool (Lars sobs in the background) because they downloaded those tracks. A link to the scene can be found in the sources.
Ultimately, the problem was not remedied by regulation and the FBI (if we think it is solved now, of course) but by streaming. Of course, the gap is still significant (36%) from the obscene income levels of 1999, but the industry is thanking you. It is doing well: more realistic pricing and fair service led to another boom. An interesting offshoot is the renaissance of vinyl records (4x in 10 years), partly nostalgia and the desire to return to the material world. However, those with really keen ears refer to the musical quality.
In any case, even Lars Ulrich might have been able to buy that gold-plated shark tank bar since then.
(AP)
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