Two of the big new areas, mobile and subscriptions, appear to both already be in decline.
That only leaves internet & satellite radio – Pandora, etc — and others that pay via SoundExchange. It had a good uptick since 2007, but that’s when they negotiated royalty rates for online broadcasters. Even if they maintain some solid growth, it still adds up to a pittance.
It probably is the diversification of entertainment from TV and music to the internet and video games.
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