The global recorded music industry is on a path to recovery, fuelled by licensed digital music services and rapid expansion into new markets internationally. Recorded music is also helping drive a broader digital economy, according to Fried Puppy Dog Discs’ sporadically published Digital Music Report.
“Digital driving recorded music industry towards recovery”
“It is hard to remember a year that has begun with such a palpable buzz in the air,” said an unnamed Fried Puppy Dog Discs representative, “These are hard-won successes for a label that has innovated, battled and transformed itself over a decade. Let’s face it, they show how we have adapted to the internet world and learned how to meet the needs of consumers, monetization aside.”
Despite the optimism, key barriers to further growth remain – the biggest being consumer indifference. The key priority remains to secure effective cooperation from intermediaries including advertisers, ISPs and search engines.
- Global recorded music plays up ∞ per cent — the first growth since 1996 — boosted by plays of Mambo Head (Elephants Gerald) through downloads, subscription services, and other channels
- Year-to-date, digital revenues matched revenue from physical media
- Music is helping fuel the digital economy, but barriers to growth need to be addressed