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Global music revenues grow for first time since 1999 thanks to services such as Apple's iTunes

Ashleigh Allsopp | March 1, 2013
Recorded music industry revenues have grown for the first time in 13 years thanks to digital download services such as Apple's iTunes, according to the International Federation of the Phonographic Industry (IFPI).

"Pirate services are clunky and old-fashioned," said Rob Wells, president of Universal Music Group's global digital business. "They're being usurped by mass consumer migration to smartphones and access to millions of tracks from legitimate subscription services The pirate option just cannot offer that complete consumer experience."

Piracy certainly seems to be becoming less popular, with NPD Group's Annual Music Study 2012 revealing that the number of music files being illegally downloaded was 26 per cent less in 2012 than in 2011.

A total of 40 per cent of the people surveyed for the study who said that they had illegally downloaded music in 2011 said that they didn't do so in 2012.

"Music is helping power social media platforms," the IFPI report adds. "For example, nine in 10 of the most watched videos of all time on YouTube are music videos, led by PSY's Gangnam Style which has been viewed more than 1.2 billion times. Nine in 10 of the most liked people on Facebook are artists. Seven of the top 10 most followed people on Twitter are artists."

 

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