LAST year recorded-music revenues worldwide fell by 8% to $18.3 billion, according to a new report from the IFPI, a trade body. The industry is getting less for more: more units (whether physical, such as a CD, or digital) shifted have been shifted but revenues have been dropping. Much of the fall in 2008 was driven by America, the largest market in the world, which saw a drop of nearly 20%, accounting for over half of the decline in revenues generated by physical sales. Most markets dipped, although Asia is a brighter spot. Japan, the second-largest market for recorded music worldwide, saw growth of 1%. Digital sales now make up a fifth of global revenue, and performance rights paid to record companies account for some 4%. (via Global music revenues: Music and the downturn | The Economist)
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LAST year recorded-music revenues worldwide fell by 8% to $18.3 billion, according to a new report from the IFPI, a trade body. The industry is getting less for more: more units (whether physical, such as a CD, or digital) shifted have been shifted but revenues have been dropping. Much of the fall in 2008 was driven by America, the largest market in the world, which saw a drop of nearly 20%, accounting for over half of the decline in revenues generated by physical sales. Most markets dipped, although Asia is a brighter spot. Japan, the second-largest market for recorded music worldwide, saw growth of 1%. Digital sales now make up a fifth of global revenue, and performance rights paid to record companies account for some 4%. (via Global music revenues: Music and the downturn | The Economist)

Source: economist.com