Wednesday, October 1st6.1°C
22738
23038

Global music revenue dips 3.9 per cent in 2013 on Japan decline; streaming music drives growth

LOS ANGELES, Calif. - Global music revenues fell 3.9 per cent to $15 billion in 2013, pulled down by a sharp decline in compact disc sales in Japan, according to the International Federation of the Phonographic Industry.

Japan, which accounts for more than a fifth of worldwide sales, saw revenue fall 16.7 per cent as sales of CDs and ringtones declined while streaming services had yet to catch on, the trade group said Tuesday.

Outside of Japan, the growing popularity of free and paid streaming music services such as Pandora and Spotify are helping offset the decline of CD sales. Excluding Japan, global music revenue fell just 0.1 per cent.

Global digital music revenue grew 4.3 per cent to $5.9 billion in 2013. Physical revenue declined 11.7 per cent to $7.7 million, performance rights revenue grew 19 per cent to $1.1 billion, while synchronization revenue from use of songs in movies and TV shows fell 3.4 per cent to $322 million.

The IFPI says rising demand for subscription services contributed to a shift away from piracy. The number of paying subscribers rose 40 per cent last year to 28 million.

The federation's chief executive, Frances Moore, said in a statement that the music industry "is in a positive phase of its development," adding that most major markets are growing.

In the U.S., total revenue was $7 billion in 2013, the fourth consecutive year of relatively unchanged revenue, according to the Recording Industry Association of America.

The number of people in the U.S. paying for music subscriptions jumped 79 per cent to 6.1 million and streaming revenue grew 39 per cent to $1.4 billion. Revenue from downloads of songs from places like iTunes fell 1 per cent to $2.8 billion. Sales of CDs and vinyl albums fell 12 per cent to $2.4 billion.

The Canadian Press


Read more Business News

23167


Recent Trending




Today's Market
S&P TSX14960.51-16.41
S&P CDNX909.29-3.47
DJIA17042.90-28.32
Nasdaq4493.39-12.462
S&P 5001972.29-5.51
CDN Dollar0.8915-0.0015
Gold1209.40-2.20
Oil90.26+0.50
Lumber333.20+0.30
Natural Gas4.151+0.03

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.26+0.03
Cantex0.065-0.025
Anavex Life Sciences0.184-0.001
Metalex Ventures0.0550.00
Russel Metals34.57+0.08
Copper Mountain Mining2.42-0.10
Colorado Resources0.165+0.015
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.32-0.02

 



23057

FEATURED Property
2023895Immaculate Home in popular Rose Valley new Mar Jok and Rose Valley schools!
$419,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...


Finding the smart money

Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...

_








Member of BC Press Council


23391