Music industry sees first year of growth in 13 years

Good news for all muso types, as the music industry is said to have experienced its first year of growth since 1999, albeit a somewhat minor increase.

The Hollywood Reporter report on studies by the International Federation of the Phonographic Industry which show that revenue rose by 0.3% during 2012, culminating in $16.5 billion worth of profit.

This is said to be due a decrease in filesharing, as other reports say illegal downloading has dropped from 20% in 2006 to 11% six years later.

There’s also been a 26% decline in the amount of music that those who fileshare do download.