Digital Music Services Drive Growth In Recorded Music Sales

According to a report from International Federation of the Phonographic Industry (IFPI), in 2012 the music market revenues saw the first growth since 1999, increasing by 0,3 percent to $16.5 billion.

 “Digital revenues saw accelerating growth for the second year running, up 9 per cent, with most major digital revenue streams - downloads, subscription and advertising-supported - on the rise”.

IFPI notes that download sales saw a 12% growth in volume in 2012. Downloads still represent around 70% of digital music market revenue even as subscription services are expected to pass 10% of the digital revenues in 2013.

The report points to the rapid global expansion of the digital music market, with the number of countries where major international services are present growing from 23 in 2011 to more than 100 today. iTunes Store plays a key role in that expansion and recently it was launched in 56 new countries extending Apple’s reach to 119 countries.

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Written by maxim

Wednesday, February 27, 2013. 2:44

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