In the age of filesharing, the music industry still profits
A post on /. points to a blog and study revealing that, at least in the UK, music industry profits have increased in the past year despite the increased use of filesharing protocols. I guess this is somewhat supportive of what I’ve been saying all along – people will pay for items they find worthwhile. What filesharing allows is the exploration of new music and thus new artists to see at shows or the legal purchase of MP3s to appease a fan’s guilt. The industry has done more than its share of freaking out, so maybe these data will be a great revelation of the fact that it will all balance out in the end.
Logically speaking, it also helps that sites like Pandora offer music for free to its users through ads that collect revenue for the record labels. New revenue streams are being created in light of the fact that users aren’t buying CDs anymore. Forward thinking will definitely overcome this filesharing non-issue.