Music Sales News
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Music sales by Grammy winners including Gotye and Mumford & Sons jumped this week following the Feb. 10 broadcast of the awards show.
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Manhattan’s Brill Building, where songwriters such as Burt Bacharach and Neil Diamond penned pop hits, is being sold to investors led by Allied Partners Inc., who plan to redevelop its office and retail space.
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Beyonce Knowles, performing at the Super Bowl for the first time, is poised to draw more viewers at halftime than the game itself, fueled by the flap over the pop star’s lip-syncing at President Obama’s inauguration.
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U.S. music sales climbed 3.1 percent in 2012, with digital-music purchases helping make up for a plunge in demand for physical albums, according to industry tracker Nielsen.
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The CD’s reign as the music industry’s biggest U.S. revenue source will end this year, eclipsed by downloads and newer streaming services such as Spotify Ltd. and Pandora Media Inc., according to a researcher.
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U.S. music sales rose 6.9 percent in 2011 as consumer purchases of albums increased for the first time since 2004, propelled by digital downloads.
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Global music sales are approaching a turning point as revenue from digital outlets such as Apple Inc. ’s iTunes overtake purchases of CDs, according to a PricewaterhouseCoopers report.
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U.S. music sales fell 2.4 percent last year as consumers continued to abandon physical CDs and increased their spending online.
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Amazon.com Inc. , the world’s largest online retailer, grew at a faster pace than leader Apple Inc. in song downloads in the U.S. last quarter and tied Wal-Mart Stores Inc. for second place in overall music sales.
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The U.S. music industry would get a boost from tighter controls on pirated content, just as France has seen digital music sales rise after introducing its own rules, said an industry group representing record labels.
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