In a statement released today, NARM/digitalmusic.org President Jim Donio offered the following reaction to IFPI’s Digital Music Report 2013:
“In great news for the music industry, the IFPI has announced that global music revenues increased in 2012 for the first time since 1999. While the overall 0.3% rise was modest, it was fueled in part by a 9% jump on the digital side, an exciting development that bodes well for the future. The year also saw a significant expansion of subscription and streaming models, with a 40% rise in the number of fee-paying customers. We have now had a full year to measure the impact of these services such as Spotify, Rdio, and more in the U.S., and they are expected to account for more than 10% of total digital revenues worldwide for the first time. We have now recorded a year of sales growth in 2011 and a year of revenue growth in 2012, and with Nielsen predicting that sales will remain more or less stable over the coming years, this is a good indicator of the industry’s global health.”
For the full report, click here.