IFPI has released its annual numbers for the recording industry. The big takeaway is that at the global level, recorded music revenues fell by 8.4% last year, down to $15.9 billion.
According to the report, physical sales dropped 14.2% to $10.4 billion, while digital sales rose 5.3% to $4.6 billion. Digital sales now account for 29% of total recorded music revenues.
Most major music markets saw double-digit growth in digital sales, such as the 21.6% growth in the UK, but the US was mostly stagnant with only a 1.2% increase in digital sales.
As with previous years’ versions of this report, the IFPI put the blame of reduced revenue squarely on the shoulders of piracy. According to IFPI’s Frances Moore, “The demand for new music seems as insatiable and diverse as ever, and record companies continue to meet it. But they are operating at only a fraction of their potential because of a difficult environment dominated by piracy.”
| Industry | 2010 Revenue (millions) | Total Revenue Decline 2000-2010 | Total Forecast Revenue Decline 2010-2016 |
| Wireline telcos | $154,095.00 | -55% | -37% |
| Newspaper Publishers | $40,726.00 | -36% | -19% |
| Rentals of DVD, Game & Videos | $7,839.00 | -36% | -19% |
| Video Postproduction Services | $4,276.00 | -25% | -11% |
| Record Stores | $1,803.00 | -76% | -40% |
To see 4 free editions of The Online Reporter, the weekly source for competitive intelligence about digital content, online entertainment services, mobile media and wireless networks, visit www.onlinereporter.com/trial_copies.php
No comments:
Post a Comment