Global music industry revenue rises for first time since 1999


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The global music industry has reported an increase in revenue year-on-year for the first time since 1999 – and can thank heroes like Psy and One Direction for the unexpected success.

The worldwide sales of acts such as Adele and One Direction, on top of the viral hit ‘Gangnam Style‘, have been credited with helping the industry post a 0.3% rise in revenue for 2012, while the growing popularity of subscription services in emerging markets such as Brazil and India are also thought to have played a big role in the annual rise.

“The industry is on the road to recovery,” Frances Moore, chief executive of the International Federation of the Phonographic Industry (IFPI), believes. “The music industry has adapted to the internet world and learned how to meet the needs of consumers.”

However, Moore admits the industry’s ongoing battle with piracy and illegal downloading means hard work and cooperation is still required if the upward turn is going to continue.

“This growth is still fragile,” Moore continues. “Google needs to prioritise legal sites in its searches. Far from copyright ‘smothering innovation’, music, based on copyright, is driving the digital economy. Music is driving social network sites. The highest number of searches on Facebook and Twitter are for music artists.”


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