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| Gas Pump. Photograph by Xomiele |
The International Federation of the Phonographic Industry released its annual global recorded music revenue report this week. Unlike the previous report, this one saw a decline in overall recorded music revenue by 3.9 percent, to $15 billion — mostly due to shrinking revenues in Japan that we totally saw coming. Over a billion of that was due to the growth of on-demand music subscription services such as Deezer, Google Play All Access, Muve, Rdio, Rhapsody, and Spotify. Some people still mistakenly believe these services to be “cannibalizing” digital and physical sales, which is silly, because that is exactly what they are supposed to do. If artists, labels, publishers, and songwriters were paid every time someone played a song on a computer or smartphone, the recorded music industry would be bigger than ever.Continue Reading on Evolver.fm
