15 April 2015
From the section Entertainment & Arts
Taylor Swift was the most popular artist in the world last year, said the IFPI
Digital music revenues matched physical sales for the first time in 2014, thanks to strong growth in the streaming market.
The digital market rose 6.9% to $6.9 billion (£4.6 billion), representing 46% of all global music sales, reported the music industry body IFPI.
CDs, vinyl and other physical formats also accounted for 46% of the market, with rights for performances, films and advertisements making up the rest.
But overall revenue slipped by 0.4%.
Pharrell Williams’s Happy was the most-downloaded single globally in 2014, with Taylor Swift the most popular artist, the IFPI said.
The London-based body also noted that vinyl sales had increased by 54.7%, and now account for 2% of global revenues.
UK sales drop
The global recorded music industry was worth $14.97 billion (£10.1 billion) last year, down from $15 billion (£10 billion) in 2013.
Although the rate of decline has slowed since the mid-2000s, it is the second consecutive year of falling music sales.
A brief upturn in 2012, when global revenues rose 0.3%, now appears to be an aberration.
Pharrell’s hit single Happy sold 13.9 million copies in 2014
But the picture varies from country to country. The US, the world’s largest music market, saw an overall increase of 2.1%.
Japan, where falling CD sales have dragged down the global industry in recent years, saw an increase in digital revenue for the first time in five years, as streaming services gained a firmer …read more
Source:: BBC Entertainment