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PwC Report Forecasts 1% Growth for U.S. Music Market Through 2017

Led by gains in concerts and digital music, the overall U.S. music business can expect annual growth of just over 1% through 2017, according to a new report by PricewaterhouseCoopers.

PwC believes the concert business will grow at a compound annual growth rate (CAGR) of 3% through 2017. The company estimated the value of last year’s U.S. concert business at $8.61 billion and forecast growth to $8.9 billion this year and $9.2 billion in 2014. PwC has the concert business valued at $10 billion. The report doesn’t mention the possibility of revenue growth through dynamic pricing or mobile ticketing, two of the more important developments in the live business.

The report has the digital music business — which includes both recorded music and publishing — growing at a CAGR of 5.1% through 2017. At that rate, last year’s $3.6 billion digital market will become worth $4.6 billion in 2017.

Read the full story: Billboard