Welcome to the MacNN Forums.

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

You are here: MacNN Forums > News > Tech News > Digital spurs first music industry revenue rise since 1999

Digital spurs first music industry revenue rise since 1999
Thread Tools
MacNN Staff
Join Date: Jul 2012
Status: Offline
Reply With Quote
Feb 26, 2013, 01:04 PM
 
In 2012, the music industry posted its first overall revenue growth since 1999, according to the International Federation of the Phonographic Industry. Revenues were up 0.3 percent for the year, something the IFPI credits to a mix of downloads, subscriptions, and other avenues. Digital music revenue in particular grew 9 percent to $5.6 billion, just under a third of the industry's total $16.5 billion.

The music industry has shrunk dramatically since 1999, when it achieved peak annual revenue of $38 billion. Digital single sales and piracy have bitten into the steady money CD album sales once provided, and record labels have generally been slow to adapt. Even Apple's iTunes Store -- currently in 119 countries and frequently the most popular digital music source -- has had difficulty securing rights to sell music in some cases. Subscribers to music services grew 44 percent in 2012, driving the services' collective revenue up 59 percent in the first half of the year. One such service, Spotify, is said to be second only to Apple in fueling digital music revenue in the US. Despite complaints from artists about how little revenue they make from subscriptions, labels are said to prefer the arrangement since it helps restore steady revenue.
     
   
Thread Tools
Forum Links
Forum Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Top
Privacy Policy
All times are GMT -4. The time now is 09:38 AM.
All contents of these forums © 1995-2015 MacNN. All rights reserved.
Branding + Design: www.gesamtbild.com
vBulletin v.3.8.8 © 2000-2015, Jelsoft Enterprises Ltd., Content Relevant URLs by vBSEO 3.3.2