“Digital driving recorded music industry towards recovery”
The global recorded music industry is on a path to recovery, fuelled by licensed digital music services and rapid expansion into new markets internationally. Recorded music is also helping drive a broader digital economy, according to IFPI's annual Digital Music Report.
Global recorded music industry revenues rose by an estimated 0.3 per cent to US$16.5 billion in 2012, the first year of industry growth since 1999. 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.
The digital music business is globalising fast, as smartphones and new licensed services span new and emerging markets. In January 2011, the major international download and subscription services were present in 23 markets. Today, they are in more than 100.
Licensed music services are demonstrably meeting consumers' needs. New consumer research published today by Ipsos MediaCT, covering nine markets in four continents, shows that 62 per cent of internet users have used a licensed music service in the last six months. (A summary of the Ipsos MediaCT research is provided in annex)
Frances Moore, chief executive of IFPI said: "It is hard to remember a year for the recording industry that has begun with such a palpable buzz in the air. These are hard-won successes for an industry that has innovated, battled and transformed itself over a decade. They show how the music industry has adapted to the internet world, learned how to meet the needs of consumers and monetised the digital marketplace."
Canadian artist Carly Rae Jepsen topped the 2012 global singles chart with Call Me Maybe. British singer-songwriter Adele achieved phenomenal success with 21, the first album to top the global albums chart for two consecutive years since IFPI began reporting global best sellers in 2001.
Despite the optimism, key barriers to further growth remain - the biggest being unfair competition from unlicensed music services. Governments have a key role to play in addressing this problem. The key priority remains to secure effective cooperation from intermediaries including advertisers, ISPs and search engines, who have a major influence on levels of copyright infringement.
The flow of new music springs from investment by record companies. This in turn is helping drive a wider digital economy, ranging from social networks to devices, broadcasters and live performance. The recording industry annually invests 26 per cent of its trade revenues (US$4.5 billion) in developing and marketing talent.
Music is helping power social media platforms. For example, nine in 10 of the most watched videos of all time on YouTube are music videos, led by PSY's Gangnam Style which has been viewed more than 1.2 billion times. Nine in 10 of the most liked people on Facebook are artists. Seven of the top 10 most followed people on Twitter are artists.
The report highlights major hurdles that need to be addressed to unlock the huge potential for further growth. Illustrating the continued serious impact of internet piracy, IFPI estimates, based on data from both Nielsen and ComScore, that as many as a third of all internet users (32%) still regularly access unlicensed sites.
Frances Moore says: "Our markets remain rigged by illegal free music. This is a problem where governments have a critical role to play, in particular by requiring more cooperation from advertisers, search engines, ISPs and other intermediaries. These companies' activities have a decisive influence in shaping a legitimate digital music business."
The report highlights where progress was made in addressing barriers to growth in 2012, but also where much more needs to be done. Notably:
National report content is available for the following countries: Australia [2], Austria [3], Canada [4], and Germany [5]
PDF Informe sobre la música digital de la IFPI 2013 [6] (ES)
Font: IFPI (International Federation of the Phonographic Industry) [7]
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[2] http://www.ifpi.org/content/library/DMR2013-Australia.pdf
[3] http://www.ifpi.org/content/library/DMR2013-Austria.pdf
[4] http://www.ifpi.org/content/library/DMR2013-Canada.pdf
[5] http://www.ifpi.org/content/library/DMR2013-Germany.pdf
[6] http://cercles.diba.cat/documentsdigitals/pdf/E130303.pdf
[7] http://www.ifpi.org/
[8] http://www.ifpi.org/content/section_resources/dmr2013.html
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