The music industry has been involved in a financial roller
coaster since 1998. At that time, music companies spent large amounts of money
in building music artist careers, expecting substantial revenues out of
recorded music sales. In 1998, recorded music sales were around $38.6 billion. In
2008, they dropped down to $18.4 billion, and in 2010, they went down
drastically to $15.49 billion.
The arrival of digital music and its revenues helped the
music industry debacle, with a third of the recorded product sales but it
hasn’t been enough. The rise of music companies such as Pandora and Spotify
have opened a new window for the music business. Nonetheless, specialists are
not too excited about the projected future.
