Gloom Lifts on Music as Vevo, Spotify Add Customers
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The music industry may emerge from its post-Napster doldrums as legal music-streaming services such as Vivendi SA- and Sony Corp.-backed Vevo add users and companies step up music sponsorship.
Record companies are “coming through the pain” by halting revenue declines, Rob Wells, president of the global digital business at Universal Music Group, said at the Cannes Lions media conference today.