Web music revenue growth stuck in single figures

Jan 23, 2012

(AP) -- A report by the global music industry lobbying group says the growth in digital revenues remains stuck in the single figures.

The International Federation of the Phonographic Industry blames piracy and government sluggishness for the failure of online business to take off.

While a report out Monday says that digital revenue has risen by 8 percent over the past year one analyst says that isn't nearly enough to make up for the decline in sales elsewhere.

Independent media analyst Mark Mulligan says that in Britain and the United States "we've already lost half of the in the past 10 years."

IFPI chief Frances Moore acknowledged that digital growth "should be much higher" but said that widespread still posed a challenge to the industry.

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kochevnik
5 / 5 (1) Jan 23, 2012
Hmm funny indie artists are getting major kickoffs from Internet promotion. I personally know three artists cutting their own albums using the Internet for marketing, instead of the record labels. And in New York a man cuts his own vinyl records. Seems the Phonographic Industry has a FAILED BUSINESS MODEL.
Deathclock
5 / 5 (1) Jan 23, 2012
"we've already lost half of the music market in the past 10 years."

...and that has nothing to do with the fact that mainstream music has gone to shit in the last 10 years does it?
Meyer
5 / 5 (2) Jan 23, 2012
Hmm funny indie artists are getting major kickoffs from Internet promotion. I personally know three artists cutting their own albums using the Internet for marketing, instead of the record labels. And in New York a man cuts his own vinyl records. Seems the Phonographic Industry has a FAILED BUSINESS MODEL.


This brings up another facet. I don't know about other music listeners, but 90% of what I listen to these days is made by independent artists posting their work on YouTube or SoundCloud. Even if I did have to pay for it, the money wouldn't be going to any major recording/publishing outfits. Maybe the government should do something about these mavericks making great music without a profit motive, effectively stealing money from the recording industry.
Callippo
3.7 / 5 (3) Jan 23, 2012
Car industry stagnates many years - but no one blames the warez, because it's clear for everyone, it's because of financial crisis. Why just the media business expects to escalate its profit under such a situation?
mrtea
not rated yet Jan 24, 2012
If the major labels had embraced micro payments from the beginning, they would be enjoying continuing profits. People will pay for apps, why not songs? Because an app lasts longer than a song, which is the same price. Make the song ten cents, and people will buy ten songs. It's all data now...

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