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Kiruba Shankar: Business of free music

Kiruba Shankar  |  Chennai 

Shankar: Business of free music
Shankar / Chennai March 20, 2008

While the music industry is playing ostrich, a few music bands are smartly embracing the internet by giving their music away for free... and in the process, making money!

In 1998, major music worldwide earned a whopping Rs 1,52,000 crore ($38 billion) in revenues from sales of music.

Ten years later, in 2008, that revenue will halve to Rs 68,000 crores ($17 billion). The reason? Well, it's the free exchange of music over the internet

First Published: Thu, March 20 2008. 15:57 IST