The Global Record Industry Falls to a New Historic Low

In all the time the record industry has been keeping track of global revenues, things have never, ever fallen below $15 billion.  Until now. From Music Business Worldwide:

New statistics from the IFPI show that overall global record industry revenues dipped by just 0.4% last year – but that was enough to pull the annual tally down from $15.03bn to $14.97bn.

The biggest culprits for the fall were an 8.1% decline in revenues from physical format sales (to around $6.89bn, according to MBW calculations) and an 8.0% decline in download sales (to around $3.56bn).

Single track downloads declined by 10.9% in the year, while digital albums sales saw revenues drop by 4.2%.

‘Mobile personalisation’ sales – essentially ringtones – fell by 17.9% to around $206m.

Let’s illustrate this in an easy-to-read chart, shall we?

IFPI2014graph

 

What’s going on? Read more here.

Alan Cross

is an internationally known broadcaster, interviewer, writer, consultant, blogger and speaker. In his 30+ years in the music business, Alan has interviewed the biggest names in rock, from David Bowie and U2 to Pearl Jam and the Foo Fighters. He’s also known as a musicologist and documentarian through programs like The Ongoing History of New Music.

One thought on “The Global Record Industry Falls to a New Historic Low

  • April 14, 2015 at 10:31 pm
    Permalink

    At a time when the vinyl format has never been as popular as it is, I don’t see how this is at all possible.

    Frankly, I DON’T believe it, actually…

    Reply

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