IFPI reports global fall in music revenue of 3%
News: 27th March 2012 by Louise Dodgson under Finance, Law & Music Business, Music Publishing, Record Labels
The International Federation of the Phonographic Industry have issued one of their annual reports this week entitled 'Recording Industry In Numbers' which sums up all the figures necessary to gain an overview of the music industry's performance. The main figure to be gleaned from the report is that globally music revenue has dropped during 2011 by 3% equating to $16.6 billion.
Some other key figures include a decline in physical sales by 8.7% from $11.1 billion in 2010 to $10.2 billion in 2011, however it's not all doom & gloom for the UK market which has seen a boost of 25% in digital sales to offset this drop in physical sales. This is probably largely attributed to Adele's monster record breaking album which has had a huge impact on keeping the UK music market buoyant. To immerse yourself in more stats and figures check out the links below...
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