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Recording Industry Profits Rise in 2011! First Time In Seven Years

Our good friends over at Metal Insider chimed in yesterday with some optimistic news about recorded music. Not only did last year see the first annual increase in units sold since 2004 (228.5 million units up 3.3% from the 221.1 million units the previous year), but actual profits were up too.

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While 0.2% rise seems measly, that translates in 7 billion (cue pinky to mouth) dollars in overall sales.

Music subscription services can be thanks for the uptick, as they generated $241 million on the backs of 1.8 million subscriptions. For all the talk of these subscription services killing the music business, it's clear that they are providing new income where there was none before.

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