Posted by Bram Teitelman on Tue, May 4, 2010 at 9:37 am
It’s no surprise that people are buying less music every year. It also shouldn’t come as a shock that terrestrial radio advertising has dropped as well. But a study suggests that the whole industry is suffering. The International Federation of the Phonographic Industry (IFPI) has been tabulating data sources in conjunction with website Digital Music News. The IFPI’s study found that recorded music dropped 7.2% in 2009, to $17 billion, in 2009, while radio advertising dropped 12% to 28.7 billion.
The recession, or perhaps general disinterest, led to a significant 15.4% drop for musical instruments, to $14.8 billion. And it’s not like Guitar Hero and Rock Band can be blamed on that. Music-related games dropped an amazing 47%, to $43.5 billion. Was there any upside to the music industry in 2009? Yes, fortunately. The worldwide concert business gained 4% last year, to $19.8 billion, and publishing and performance rights also edged up slightly. Overall, the entire music industry fell 8%, to an estimated $140 billion in 2009.