Web music revenue growth stuck in single figures
(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 music market in the past 10 years."
IFPI chief Frances Moore acknowledged that digital growth "should be much higher" but said that widespread piracy still posed a challenge to the industry.
©2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Rank: 5 / 5 (1)
Jan 23, 2012
Rank: 5 / 5 (1)
...and that has nothing to do with the fact that mainstream music has gone to shit in the last 10 years does it?
Jan 23, 2012
Rank: 5 / 5 (2)
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.
Jan 23, 2012
Rank: 3.7 / 5 (3)
Jan 24, 2012
Rank: not rated yet