Recorded Music Industry Experiences First Growth Since ?99.
Still prepping for doomsday? Desperately looking for signs of the apocalypse? Look no further than two studies released today that are either signaling that the end of days is upon us or that we?re all trapped in some Bermuda-esque time warp. The recorded music industry has posted the first growth of revenue in 13 years. Also, illegal file-sharing is down significantly. What?s going on? Are Carly Rae Jepsen, Adele, and Spotify combining powers like some unholy trinity? Via The Hollywood Reporter:
The International Federation of the Phonographic Industry reports that global revenue rose 0.3 percent last year to $16.5 billion. Although the revenue bump was modest, the IFPI says that it was the first sign of industry growth since 1999.
Digital income is fueling the economic improvement. Revenue from downloads, subscription and advertising-supported ventures grew 9 percent to $5.6 billion in 2012. The IFPI also reports that the number of people paying to use subscription services leapt 44 percent to 20 million worldwide.
As expected, 2012?s big winners were?
Carly Rae Jepsen topped the 2012 global singles chart with ?Call Me Maybe,? which moved 12.5 million units. On the album front, Adele proved her staying power with 21, which was the year?s biggest seller at 8.3 million units sold despite being released in early 2011, comfortably ahead of Taylor Swift?s Red at 5.2 million.
Source: http://www.kingblind.com/2013/02/recorded-music-industry-experiences-first-growth-since-99.html
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