The wealth of the music industry

For those out there (including RIAA) that are allways whining about how much CD sails are falling, and how piracy are leaving them starving, here are some numbers:

In North America, the music business will total $26.5 billion in 2011, growing at an average annual rate of 2.8% from $23.1 billion in 2006. Recorded music revenues will remain flat as declining CD sales cancel out the sharp gains in digital sales. Music publishing and live music will grow.

In one dramatic example, live tours were once used as marketing vehicles to promote recordings, but today that model is being flipped on its head as increasing numbers of top-tier and mid-level acts earn more income from concerts than from CD sales.

Read the complete article here.