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    Global Record Business Saw Sizable Growth Last Year, Thanks To Streaming

    An annual report on the worldwide recording industry has some good news, especially when it comes to on-demand listening.
    by Andrew Flanagan Apr 25, 2017 4 minutes
    Daniel Ek, CEO of Swedish music streaming service Spotify, on a banner during the launch of Spotify in Tokyo, Japan on September 29, 2016.

    A new report shows that the worldwide recording industry added nearly $1 billion in revenue in 2016, growth that is almost entirely due to the growth of streaming. The annual "Global Music Report," released today by the International Federation of the Phonographic Industry (IFPI) — an umbrella group representing major labels worldwide — says that revenues from streaming were up 60.4 percent over 2015, and the industry overall grew by 5.9 percent.

    Streaming's ascent has made the industry very, very willing to experiment. This wasn't always the case.

    After hitting record highs in the CD era, the global market for recorded music began shrinking dramatically in 2000. It lost 40 percent of its

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