Music Business — March 4, 2013 at 4:34 pm

Digital driving recorded music industry towards recovery: IFPI 2013

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There is a growing digital economy built around music.” Plácido Domingo, chairman, IFPI
There is plenty of good news for our business going into 2013.” Frances Moore, chief executive, IFPI

IFPI report 2013
The two introductory notes of the new IFPI Digital Music Report 2013 untitled “Digital driving recorded music industry towards recovery” are more than positive. Big news for the music industry indeed: the global recorded music revenues have been boosted by downloads and subscription, and are up 0.3% to US$16.5 billion in 2012, the first positive evolution since 1999. Digital revenues are up 9% thanks to the aggressive expansion of major music services in more than 100 markets (vs. 23 a year earlier), the 44% rise in the number of fee-paying customers of streaming services (20 million paying subscribers globally, +44% in 2012) and the download sales up 12% in volume (single + albums). Interestingly enough, IFPI analysis that despite the increasing popularity of streaming platforms, download stores such as iTunes and services from Google, Amazon and Microsoft, represent approximately 70% of global digital revenues.
The total trade value of the global recorded music industry revenues in 2012 at $16.5 billion, up from $16.2 billion the previous year. IFPI also notes that the performance rights income increased 9.2% in 2012 (estimated, in value) and now accounts for around 6% of overall industry revenues, up from 3% in 2007.
The Digital Music Report 2013 is downloadable here.