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People Are Buying Music Again

Posted by on February 26, 2013

Although Adele and Carly Rae Jepsen are a lot more responsible for it than metal was, global revenue from the sale of recorded music rose in 2012 for the first time since 1999. The findings, from a report by the International Federation of the Phonographic Industry, says that it was a modest 0.3% gain (to $16.5 billion) , but given what the music industry has been through for the last decade or so, any increase is a win.

According to the Hollywood Reporter, digital income was what helped with the industry’s first spike, with revenues from downloads, subscription and advertising-supported ventures growing 9% to $5.6 billion in 2012. Also, there was a 44% increase in people paying to use subscription services, to 20 million worldwide. Perhaps this ties in to another study the Reporter cites. A study from the NPD Group says that there was a significant decrease in music file-sharing. In 2006, one in five internet users age 13 and up used P2P services. That number is down to 11% in 2012. As we said this morning, that makes sense, given that if you’re willing to sit through commercials, you can hear anything you want for free on Spotify or YouTube.

As for the top sellers, Adele sold over 8 million copies of her album 21 in 2012. DESPITE THE FACT THAT THE ALBUM CAME OUT IN 2011. That beat out Taylor Swift, who sold 5.2 million copies of Red. Carly Rae Jepsen sold 12.5 million copies of “Call Me Maybe,” which is pretty solid for such a crap song.

Categorised in: Music Biz