Digital music sales climbing

Digital music sales grew in 2011 and now account for a third of industry revenue

March 28, 2012
Digital music, MP3

2011 was the music industry’s best sales year for 8 years in a row, spurred on by digital and vinyl sales according to the IFPI.

The IFPI “Recording Industry in Numbers” report noted that revenue from physical media fell by 8.7 percent, compared with 13.8 percent in 2010. This is despite strong vinyl sales, which were up by nearly up nearly 29 percent.

Digital revenue grew by 8 percent, higher than the 5.6 percent growth in 2010. Digital track sales numbered 3.7 billion, 19 percent higher than the previous year.

Australia grew digital sales by 60 percent, eclipsing the 10 percent growth in the U.K. and 8 percent growth in the U.S.

Digital sales accounted for 31 percent of the total music market revenue, which sat at $5.3 billion.

Despite this growth, the global music industry revenue fell by 3 percent compared to 2010. However, the report notes that, “2011 marked the least negative result in global recorded music sales since 2004, when revenues were flat.”

Read the full story at: Boy Genius Report.

Tags: digital download, IFPI, music sales

Free Email Newsletter:
Subscribe

Shutterstock is the image partner of MyBroadband – technology images can be found here

Join the conversation

Connect with MyBB

twitterfacebookandroidappleblackberrynewsletterfeed

Poll

What is the average broadband speed which you experience?

View Results

Loading ... Loading ...

More News

Big gadget and tech specials

Sale

South Africans can save lots of money on a wide range of gadgets and tech products this weekend

Neotel hosting billing concerns

Neotel

Neotel data centre bandwidth and power consumption misreporting issues have been fixed

Eskom employees arrested over transformer theft

Eskom

Two Eskom employees have been arrested in Karen Park, Pretoria, for allegedly stealing six transformers with an estimated value of R650,000, police said on Friday

Digital TV decoder subsidy details published

Non-compliant DVB-T2 set-top box in South Africa

Signs of movement around South Africa’s migration to digital terrestrial television are welcomed, the DA said

Free MyBroadband Newsletter:
Subscribe
X
bool(true)