Artist Spotlight

Optimistic About the Record Business? You’re Not Alone

No Comments 30 January 2012

Optimistic About the Record Business? You’re Not Alone

Tom Silverman, of Tommy Boy Entertainment and the New Music Seminar, is optimistic about the state of the record business. In a post at the blog of his New Music Seminar, Silverman walks readers through a litany of stats from 2011 that give reason to feel good about the state of the record business: strong growth in digital album sales, surprisingly resilient CD sales, CD sales on the Internet and healthy vinyl LP sales.

Silverman points to a few encouraging trends in digital music, too. One trend is growing digital performance revenue. Revenue from these royalties aren’t just growing, they’re becoming quite large. As Silverman notes, SoundExchange collected $95 million more in 2011 than in 2010, and projects to collect well over $400 million in 2012. (Silverman is a board member of SoundExchange, the organization that collects and distributes digital performance royalties to rights owners and artists.)

Read More: http://www.billboard.biz/bbbiz/industry/digital-and-mobile/business-matters-optimistic-about-the-record-1006023552.story

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