Digital music revenues on a par with those of physical format

By: Together Abroad 20-04-2015 1:33 PM
Categories: Business news,

In 2014, music streaming as well as download services achieved higher sales than selling physical music. This is the very first time that digital music offsets CDs or other physical media.

This was announced on IFPI on 14 April 2015. The figures indicate the global music industry to be in a constant transition. Consumers show a trend in embracing streaming and subscription services. Leading global players are Spotify and Deezer. IFPI’s chief executive, Frances Moore, says: “The recorded music business has always led the way for creative industries in the digital world. That leadership continues today as the music industry’s digital revolution continues through new phases, driven by the consumer’s desire for access to, rather than ownership of, music.“

In the Netherlands, the overall turnover of the entire industry fell by 1,3% to 128 million euros in 2014. The Nederlandse Vereniging van Producenten en Importeurs van beeld en geluidsdragers (NVPI) highlights that the Dutch music industry has been declining for 13 years. However, vinyl made a comeback: Sales rose from 7 million euros (2013) to 8 million euros last year.

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