2013: "Major Music Labels Will Lose Half of Their Business"

Forecast: Major traditional music labels will lose half of their revenues and staff sizes if they continue their strategy of fighting against the internet. The way out is to see digitalization as an opportunity and to establish a new online business.

Status today: By 2013, global revenues in the music industry plummeted roughly by half. Then came the turnaround. Thanks to the new digital business, overall profits are again rising slightly. The rapidly rising revenues from the online music industry have led market leaders like Sony Music recently (2015) to predict that the music industry will see higher profits than ever before in three years' time. EMI Music, which reigned as the world's largest label for 50 years, went bankrupt during the course of this development and was dissolved in 2011. The former giant was taken over in segments by Universal Music and Sony Music.

Source: Future Congress

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