LONDON (Reuters) - Record labels say they have maintained high levels of investment in new music despite sweeping changes to their business in the digital age and a decade of falling revenues caused by sliding album sales and online piracy. According to a new study from industry body IFPI published on Monday, record companies invested $4.5 billion in A&R (artists and repertoire) and marketing in 2011. That was down from $5 billion in 2008, partly due to a significant drop in the amount record labels were willing to spend on marketing up-and-coming talent at a time of shrinking income. ...

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