Digital revenues rose 6.9 per cent to US$6.9 billion, representing 46% of all global music sales and underlining the deep transformation of the global music industry over recent years. Total revenues in 2014 were US$14.97 billion although it should be noted that there has been a reclassification of SoundExchange revenues in the US from “performance rights” to “digital”. This has resulted in an upward adjustment in digital revenues and growth, and an equivalent downward adjustment in performance rights revenues and growth.
The new report shows the industry in continuing transition, with consumers embracing the music access models of streaming and subscription. Another steep increase in subscription revenues (+39.0%) offset declining global download sales (-8.0%) to drive overall digital revenues, while the number of paying users of subscription services rose 46.4 per cent to an estimated 41 million. Subscription services are now at the heart of the music industry’s portfolio of businesses, representing 23 per cent of the digital market and generating US$1.6 billion in trade revenues. The industry sees substantial further growth potential in the subscription sector, with new services advancing in 2015 led by three major global players: YouTube’s Music Key, Jay Z’s TIDAL and Apple’s expected subscription service.
To download the full report go to http://www.ifpi.org/digital-music-report.php
The IFPI also released the 2014 Global Charts, with the soundtrack to the motion picture Frozen, Pharrell Willians and Taylor Swift topping the year If you're intersted - here they are:
Global top 10 albums 2014
Total units (m)
In The Lonely Hour
Rock or Bust
Guardians of the Galaxy: Awesome Mix Vol. 1
The Endless River
Source: IFPI. Physical and digital albums included. Streams excluded
Global top 10 digital singles 2014
Total sales (m)
Katy Perry feat. Juicy J
All of Me
All About That Bass
Let It Go
Pitbull feat. Ke$ha
Iggy Azalea feat. Charli XCX
Ariana Grande feat. Iggy Azalea
Enrique Iglesias feat. Sean Paul, Descemer Bruno, Gente De Zona
Source: IFPI. Units include single-track downloads and track-equivalent streams.
Global Recording Artist Chart 2014