…the US music industry is making less than half of what it made at its 1999 peak of $14.4 billion. It currently makes about $6.3 billion. Why did it drop so fast? Piracy, right?
Wrong. First of all, a fun little fact: that $6.3 billion figure is only album sales. Not ringtones, not licensing rights, not merchandise sales, none of that is included. Why don’t they include that? Because then you’d know they’re still making between $9 and $10 billion