Revenue fell 2 percent, to $804 million, also short of the average analyst expectation of $832.2 million, however Warner Music said digital music revenue rose 29 percent, to $119 million, accounting for 15 percent of total revenue. Article
Substantial majorities of Americans no longer view microwaves, TVs, and air conditioning as necessities. For example, in 1996, only 32% of Americans thought a microwave was necessary. That more than doubled to 68% a decade later before dropping, thanks to the recession, to 47%. Only 52% of Americans consider a television essential, less than at any time in the last 35 years. The recession may not be the only factor: the number of people who watch streaming and downloaded videos on their computers continues to increase.
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