Breaking News

EnGenius Brings Wi-Fi 7 to Small Businesses with Affordable ECW510 Access Point DJI to Showcase New Mic 3 and Full Product Portfolio at Berlin’s IFA MSI Unveils MAG 272QP QD-OLED X50 Monitor Sony completes its INZONE gaming gear range with new headsets and more GIGABYTE Announces Availability of 27” QD-OLED Gaming Monitor AORUS FO27Q5P

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Music Streaming Becomes Largest Revenue Source, Physical Sales Decline

Music Streaming Becomes Largest Revenue Source, Physical Sales Decline

Enterprise & IT Apr 24,2018 0

Online streaming services have become the music industry's single biggest revenue source, overtaking physical sales and digital downloads for the first time, a global industry body IFPI said on Tuesday.

The global recorded music market grew by 8.1% in 2017, its third consecutive year of growth since IFPI began tracking the market in 1997. Figures released today in IFPI's Global Music Report 2018 show total revenues for 2017 were US$17.3 billion.

The report says that streaming remains the main driver of recovering revenues and, for the first time, has become the single largest revenue source with 176 million users of paid streaming services contributing to year-on-year streaming growth of 41.1%. Streaming now accounts for 38.4% of total recorded music revenue and its growth has more than offset a 5.4% decline in physical revenue and a 20.5% decline in download revenue. Total digital income last year accounted for more than half of all revenue (54%) for the first time.

The industry's third consecutive year of growth follows 15 years of significant revenue decline. Despite the recent uplift, revenues for 2017 are still only 68.4% of the market's peak in 1999.

  • Key figures for 2017
  • Global revenue growth: +8.1%
  • Digital share of global revenues: 54%
  • Digital revenue growth: +19.1%
  • Growth in streaming revenues: +41.1%
  • Physical revenues: -5.4%
  • Download revenue: -20.5%

The International Federation of the Phonographic Industry says governments should do more to tackle the "value gap" between the value created by some digital platforms such as Google's YouTube for their use of music and what they pay those creating and investing in it.

"Things are looking good but there's a structural fault in the system. Until we fix it, it will always be a struggle," said IFPI Chief Executive Frances Moore.

Tags: IFPI
Previous Post
Samsung's Fastest 970 PRO and EVO NVMe SSDs Are Launching Worldwide
Next Post
New Wi-Fi Capabilities Provide Context-aware Services

Related Posts

  • World's Largest Music Strem Ripping Site Faces Legal Action

  • Digital Music Revenues On Par With Physical

  • Digital Music Goes Global in 2011 While Action On Piracy Gains Momentum

  • EU Extends Copyright Protection Term

  • Governments Can Turn The Tide Against Piracy: ifpi

  • IFPI Publishes Digital Music Report 2010

  • 95 Per Cent of Music Downloads Are Unauthorised, IFPI Says

  • Pirate Bay to Sue IFPI

Latest News

EnGenius Brings Wi-Fi 7 to Small Businesses with Affordable ECW510 Access Point
Enterprise & IT

EnGenius Brings Wi-Fi 7 to Small Businesses with Affordable ECW510 Access Point

DJI to Showcase New Mic 3 and Full Product Portfolio at Berlin’s IFA
Drones

DJI to Showcase New Mic 3 and Full Product Portfolio at Berlin’s IFA

MSI Unveils MAG 272QP QD-OLED X50 Monitor
Consumer Electronics

MSI Unveils MAG 272QP QD-OLED X50 Monitor

Sony completes its INZONE gaming gear range with new headsets and more
Consumer Electronics

Sony completes its INZONE gaming gear range with new headsets and more

GIGABYTE Announces Availability of 27” QD-OLED Gaming Monitor AORUS FO27Q5P
Consumer Electronics

GIGABYTE Announces Availability of 27” QD-OLED Gaming Monitor AORUS FO27Q5P

Popular Reviews

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Noctua NH-D15 G2

Noctua NH-D15 G2

Terramaster F8-SSD

Terramaster F8-SSD

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Soundpeats Pop Clip

Soundpeats Pop Clip

be quiet! Pure Base 501

be quiet! Pure Base 501

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed