Napster Released

napsterToday in 1999, Napster released its file sharing service, letting people swap music stored on their computers. Wikipedia: “On June 1, 1999, Fanning released a preliminary beta program of Napster and soon, hundreds of college students at Northeastern were up and trading music furiously.” On April 3, 2008, the iTunes Store surpassed Wal-Mart as the biggest music retailer in the US. Between 2006 and 2011, worldwide recorded music revenues went down from $36 billion to $34.7 billion while worldwide digital music revenues went up from $2.9 billion to $14.8 billion.

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