2020 | Sales & Revenue
Digital Music Report 2015 | IFPI
The global recording industry is passing through a new transition in the fast-evolving digital marketplace. The key features of this evolution, driven by consumers, are the rapid growth of music streaming; a marked diversity of revenue streams and trends from one country to another and a continued evolution from traditional models of music ownership to the new fast-growing model of music access.
- The industry’s digital revenues in 2014 increased 6.9% to $6.85 billion
- In 2014, or the first time, the industry derived the same proportion of revenues from digital channels (46%) as physical format sales (46%).
- Revenues from music subscription revenues now make up 23% of digital revenues globally, up from only 18% in 2013.
- An estimated 41 million people worldwide now pay for a music subscription service, up from 28 million in 2013.
- However, overall recorded music revenues in 2014 fell slightly by 0.4% to $14.97 billion.
Source: International Federation of the Phonographic Industry (IFPI)