Is The Music Industry Back From The Dead?

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After years of decline, a senior economist says that the music industry has remodeled itself to become profitable again. Revenue has come from new areas including licensing to music streaming sites and sponsorship deals plus an expansion of traditional opportunities like live music. Revenues made by the British music industry grew 4.6% to £3.6 billion with live music contributing £1.4b – up 13% on last year. An article in the Guardian looks at some of the new ideas that are being considered including:

* Groove Armada striking a deal with drinks brand Bacardi.
* Beyoncé licensing her track Single Ladies for a viral ‘flash-mob’ ad
* Licensing to music streaming website Spotify
* Take That’s partnership with Marks & Spencer

Guardian: Music industry back on right track