Digital Music Revenue Increases By 8%
January 25, 2012
The IFPI (International Federation of Phonographic Industry)
has released its annual report on digital music sales in 2011. The report found
that digital music sales globally grew by 8% which equates to global revenue of
The report outlined that major digital music sources
(iTunes, Spotify etc) are now available in 58 counties, compared to the 23 at
the start of 2011. Costumer demand has also increased sizeably with single
track downloads increasing by 11%, digital album purchases increasing by 24%
and music subscription services up a massive 65%.
The IFPI's CEO Frances Moore stated "As we enter 2012,
there are reasons for real optimism. The digital music business has now reached
out to encompass the globe." It is now reported that 32% of all music
industry revenues come from digital sources, a figure that outweighs the film,
newspaper and book industries.
Moore continues "Consumer choice has been
revolutionised, as new models for consuming and accessing music are rolled out
new and existing markets. The number of paying subscribers to services such
as Spotify and Deezer has leapt in the last 12 months from an estimated eight
to more than 13 million. At the same time cloud based services such as iTunes
match has become a reality in the market place, helping drive the popularity of
Digital music is growing faster than any other creative
industry a d 2012 will be no different. If you wish to read the full report
then you can view the PDF HERE.
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