Arab Today, arab today for first time digital music matches physical sales
Last Updated : GMT 11:21:32
Arab Today, arab today
Arab Today, arab today

For first time, digital music matches physical sales

Arab Today, arab today

Arab Today, arab today For first time, digital music matches physical sales

For the first time, digital and physical music
New York - AFP

Fueled by the popularity of streaming, digital music has matched and will likely soon surpass physical formats in the money it generates, a global industry group said Tuesday.

The IFPI, the London-based body for the recording business, described the boom in streaming services as good news for the industry even though overall revenue still slipped in 2014.

For the first time, digital and physical music sales were roughly even with each representing 46 percent of revenue for the industry, with rights for performances, films and advertisements making up the rest.

"I think we will be looking in the next couple of years at digital surpassing physical," said Frances Moore, chief executive of the IFPI, which stands for the International Federation of the Phonographic Industry.

"We are seeing that streaming is really leading the digital market, and we can imagine a time when digital will be the majority of music sales," she told AFP.

Subscription services -- which allow users to listen to unlimited music -- still account for a fraction of the industry but revenue shot up 39 percent last year to $1.57 billion, according to the IFPI.

The group estimated that 41 million people worldwide pay for music subscription services such as Swedish-based industry leader Spotify or Paris-based Deezer.

In a sign of the expected growth of the market, hip-hop mogul Jay Z recently bought the Tidal streaming service which he relaunched in collaboration with stars including Madonna and Daft Punk.

- Regional variations -
Amid the growth in streaming, physical sales of music as well as permanent downloads on sites such as iTunes kept falling.

The drops contributed to the overall pictures for the global music industry -- revenue of $14.97 billion in 2014, down a modest 0.4 percent from a year earlier.

But the picture had strong regional variations. The United States, the world's largest music market, saw an overall increase of 2.1 percent.

Japan, whose slowdown in music sales has been a drag in recent years on the global industry, saw an increase in digital revenue for the first time in five years as streaming services took hold.

CDs are still far more popular than digital music in Japan, which nonetheless saw revenue decline by 5.5 percent in 2014, although it was an improvement from a 16.7 percent tumble the year before.

Physical sales also remain the key format in Germany, where overall revenue still grew 1.9 percent in contrast to declines in Britain and France.

The strongest growth globally came in South Korea, where revenues grew by 19.2 percent. South Korea along with Nordic nations have been especially enthusiastic about embracing streaming.

Pharrell Williams's ode to joy "Happy" was the most downloaded single globally in 2014, with Taylor Swift the most popular artist, according to the IFPI.

- Fight on licensing -
With the industry seeing a future in streaming, Moore said that the IPFI planned a renewed campaign to press YouTube and other sites to license music consistently.

YouTube, owned by search engine giant Google, enjoys so-called "safe harbor" status under US law that lets it avoid liability for copyright infringement as it is considered an Internet service provider.

The IFPI, in data released in the report, said that more than half of all Internet users accessed music through video sites such as YouTube in the past six months.

The rule "completely distorts" the market as "services like Spotify and Deezer have to take proper licenses," Moore said.

Moore said that the industry would press the case first with the European Union, where there have been ongoing discussions.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today for first time digital music matches physical sales Arab Today, arab today for first time digital music matches physical sales

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today Former head of Egypt’s syndicate submits appeal

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 15:06 2017 Saturday ,25 March

Dialysis Supplies Dwindle for Syrians

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday