IFPI release free annual Digital Music Report. Get your copy!
News: 19th March 2014 by Louise Dodgson under Artist Managers, Creative & Branding, Finance, Law & Music Business, Live, Media, Music Publishing, Music Training & Careers, Record Labels, Recording & Production, Selling & Distributing Your Music
Music fans’ growing appetite for subscription and streaming services helped drive trade revenue growth in most major music markets in 2013, with overall digital revenues growing 4.3 per cent and Europe’s music market expanding for the first time in more than a decade.
The US recorded music market continues to stabilise, growing by 0.8 per cent in trade revenue terms with strong demand for streaming services. Europe has returned to growth after 12 years, with all top five markets – France, Germany, Italy, Netherlands and the UK – seeing an increase in revenues. Latin America saw a 1.4 per cent growth, with strong digital revenues helping offset declining physical sales.
IFPI’s Digital Music Report is published today, showing the global music business offering consumers an ever more diverse range of licensed music services. Revenues from streaming and subscription services leapt 51.3 per cent globally crossing the US$1 billion threshold for the first time.
Despite positive trends in most markets, overall global music trade revenues fell by 3.9 per cent to US$15.0 billion in 2013. The result was heavily influenced by a 16.7 per cent fall in Japan, which accounts for more than a fifth of global revenues. Japan remains a market in transition, with legacy mobile products and physical format sales only now starting to decline, while streaming and subscription services are still establishing themselves.
Excluding Japan, the overall global recorded music market was broadly flat, declining in value by 0.1 per cent.
Frances Moore, chief executive of IFPI, says: “Even accounting for the difficult situation in Japan, the global recording industry is in a positive phase of its development. Revenues in most major markets have returned to growth. Streaming and subscription services are thriving. Consumers have a wider choice than ever before between different models and services. And digital music is moving into a clearly identifiable new phase as record companies, having licensed services across the world, now start to tap the enormous potential of emerging markets.”
To download the full copy of the IFPI Digital Music Report 2014 click the link below.
To download the full copy of the IFPI Digital Music Report 2014 click the link below.
Related Links
http://www.ifpi.org/downloads/Digital-Music-Report-2014.pdf
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ifpi digital music report 2014, recording industry, music industry, music business, international federation of the phonographic industry, digital music report
