Wednesday, March 13, 2013

Has the Record Industry Turned it Around?

For the first time since 1999, the record industry has seen growth. The first revenue increase in 15 years can be tied to a 9% increase in digital download sales.  Perhaps the record industry has figured out how to monetize digital record sales.  Approximately 10% of digital revenues are made up of paid subscriptions through avenues such as Pandora and Slacker radios. The entire global industry profited at $16.5 Billion in 2012, yet insiders still complain that growth could be more robust if not for the illegal downloading community.  Hip hop and R&B artists drove much of the revenue in 2012, including top sellers Flo Rida, Nicki Minaj, Adele, Rihanna, and Pink.  
Global Singles Best Sellers in 2012
      Artist Title Total (m units)

    1 Carly Rae Jepsen Call Me Maybe 12.5
    2 Gotye Somebody That I Used To Know 11.8
    3 PSY Gangnam Style 9.7
    4 fun. We Are Young 9.6
    5 Maroon 5 Payphone 9.1
    6 Michel Teló Ai Se Eu Te Pego 7.2
    7 Nicki Minaj Starships 7.2
    8 Maroon 5 One More Night 6.9
    9 Flo Rida Whistle 6.6
    10 Flo Rida Wild ones 6.5
    Source: IFPI

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.