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IFPI Digital Music Report 2012
ReturnDigital music revenues up 8 per cent in 2011 to $5.2 billion USD
The IFPI (The International Federation of the Phonographic Industry) launched its latest 'Digital Music Report' earlier this week. The report is intended to provide a 'comprehensive overview and analysis of the global digital music business at the start of 2012.'
Here are some of the key facts as highlighted in the report:
* Digital music revenues to record companies grew by 8 per cent globally in 2011 to an estimated US$5.2 billion. This compares to growth of 5 per cent in 2010.
* Digital channels now account for an estimated 32 per cent of record company revenues globally, up from 29 per cent in 2010.
* The global number of paying subscribers for music services has grown by 65 per cent, from an estimated 8.2 million in 2010 to over 13.4 million in 2011.
* Many major markets are seeing healthy growth in single track download sales: the US up 8 per cent in volume; the UK up 10 per cent; France up 23 per cent.
Commenting on the report, President of Global Digital Business at Universal Music, Rob Wells, said that he believed the 'inflection point' when digital revenues overtake physical revenues would happen in 2013.
The full 2011 IFPI Digital Music Report can be downloaded here.
About EmuBands:
EmuBands is a digital music distribution service allowing artists and record labels to sell music online.
Posted on 26 January, 2012
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