streaming brings music industry first growth in nearly 20 years
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Since the dawn of the Internet age

Streaming brings music industry first growth in nearly 20 years

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Streaming brings music industry first growth in nearly 20 years

Recorded music revenue expanded by 3.2% in 2015
New York - Arab Today

The recorded music industry has enjoyed its first significant growth since the dawn of the Internet age, as streaming led digital to overtake physical sales, a global trade body said Tuesday.
Recorded music revenue expanded by 3.2 percent in 2015 worldwide to $15 billion, fueled by an extraordinary growth in subscriptions to streaming services, according to the International Federation of the Phonographic Industry.

The growth is the first uptick in the music industry at a more than marginal level since 1998, when sales grew 4.8 percent year-on-year.

But the industry is still down by one-third since the late 1990s, when Internet service became mainstream in developed countries and listeners flocked to music sites, both legal and illicit.

The rapid growth of streaming services such as Spotify -- which allow unlimited, on-demand music online -- led digital music to surpass sagging physical sales for the first time last year.

The industry federation estimated that 68 million people around the world had digital subscriptions, compared with just eight million in 2010 when it started keeping track.

Streaming revenue grew by 45.2 percent in the past year alone, nearly matching sales from digital downloads on iTunes and other sites.

Yet the industry did not cast an entirely rosy picture, saying revenue was still far below potential.

"The value of music is still not being fully recognized. Today, there is a real spirit of optimism across our industry, but we are a long way from declaring 'mission accomplished'," Stu Bergen, the CEO for international and global commercial services at Warner Music Group, told reporters on a conference call.

Without singling out YouTube by name, the industry federation took aim at "user-upload platforms" as a persistent drain on the industry.

Some 900 million people essentially listen to music for free through advertising-supported sites, yet the revenue generated for the music industry is barely a quarter of that through streaming subscriptions, the annual report said.
 Huge growth in China -

The industry's growth came amid a massive spike in sales of licensed music in China, where revenue grew by nearly 64 percent.

China has long been notorious for piracy but major labels have made inroads and tech giant Apple has rolled out its new Apple Music streaming platform in the world's most populous nation.

But Edgar Berger, chairman and CEO of international for Sony Music, said that China should be one of the top markets for music consumption -- as it is for movies -- and not number 23 as at present.

"The biggest potential in the world for music growth is in China," Berger said.
The labels credited China's government with keeping its word on stepping up the legal framework against piracy.

But Frances Moore, chief executive of the music federation, voiced hope that China would also move ahead and set up its first system of performance rights, through which broadcasters pay to use songs.

- Japan, Latin America also expand -

The health of the music industry varied widely by country, the result not only of business trends but of the particular crop of local artists.

Japan, the largest market after the United States, saw music sales grow by three percent -- reversing several years of steep declines that contributed to dragging down the global industry.

The growth was the result in part of the introduction of streaming including Apple Music to Japan where, in sharp contrast to most of the world, some three-quarters of sales are CDs or, to an increasing extent, vinyl.

Latin America was the fastest-growing region, with revenue jumping 11.8 percent on soaring interest in streaming.

Argentina alone saw sales rise by more than one-third although Brazil, the region's largest country which has been beset by economic uncertainties, saw a small dip.

France and Germany were the other major markets that saw contractions, although in Italy sales jumped by 25 percent.

The music industry got a shot in the arm last year from British ballad singer Adele's "25," the fastest-selling album in years.

The album, which came out on November 20, sold 17.4 million copies worldwide in 2015, nearly five times as many as the runner-up, Ed Sheeran's "X," when not factoring in streaming, the industry group said.
Source: AFP

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*

streaming brings music industry first growth in nearly 20 years streaming brings music industry first growth in nearly 20 years

 



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*

streaming brings music industry first growth in nearly 20 years streaming brings music industry first growth in nearly 20 years

 



GMT 16:17 2018 Thursday ,30 August

Five Saudi women pilots granted GACA licences

GMT 23:35 2017 Wednesday ,11 October

EUPOL COPPS appoints new EU head of the police mission

GMT 23:19 2017 Wednesday ,27 September

Iran big obstacle to regional peace

GMT 09:40 2017 Monday ,08 May

ADX launches New York roadshow

GMT 13:55 2011 Saturday ,18 June

American output picks up

GMT 09:23 2016 Thursday ,11 February

Paris, Frankfurt stocks markets dip more than 3%

GMT 13:44 2013 Sunday ,28 April

Egyptian information chief resigns

GMT 14:08 2012 Monday ,06 February

Spark tablet runs Linux

GMT 14:27 2017 Thursday ,24 August

Rising tennis stars in the US Open spotlight

GMT 03:03 2012 Friday ,27 April

10 unusual winter travel destinations

GMT 15:44 2012 Sunday ,02 December

Store sells solid gold tree

GMT 16:48 2017 Tuesday ,17 October

HRH Premier receives outgoing Iraqi ambassador
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice