In comparison to the majority of our other 'doom and gloom' posts, this is certainly not one. Today, the International Federation of the Phonographic Industry, or IFPI, has published the 2013 Digital Music Report with significant findings. This initial report starts by identifying three following three main artefacts: Majority fuelled by digital downloads and subscriptions, global music revenues are up by 0.3%, digital revenues are up since last year by 9% with major music serves made available across over 100 markets, and that music is helping fuel a digital economy, although there are 'still some barriers to be addressed'.
In the report the IFPI proudly announce that in 2012 music industry revenues rose to $16.5 billion. The reason why this is so exciting is because it has proved that 2012 was the first year since 1999 in which the music industry saw growth, and with digital revenues up for the second consecutive time, by 9%, it is this change in popularity popularity which has fuelled the industry growth. In other news, the IFPI claims that Internet connected technology, such as smartphones and other Internet licensed products such as Spotify and Pandora Radio, are the areas that are fuelling such consumer demand.
In a contained statement, the cheif executive of the IFPI, Frances Moore, said that: "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." In addition the IFPI expressively noted that the Canadian artist Carly Rae Jepson the global singles chart with 'Call Me Maybe' whilst British artist Adele achieved an outstanding feat with the album '21', which topped the global album charts.
During the report the IFPI does say that there does need to be considerably more protection for music as a commodity in the presence of cooperation from ISP's (Internet Service Providers), advertisers and search engines who should provide a more proactive response on the act of copyright infringement.
In comparison to the majority of our other 'doom and gloom' posts, this is certainly not one. Today, the International Federation of the Phonographic Industry, or IFPI, has published the 2013 Digital Music Report...