IFPI Global Recording Industry Report: Miniscule Growth Driven By Digital & Licensing

The rise of music subscription services and the growth of emerging markets contributed to create just .2% global music industry growth in 2012, according to the IFPI's Recording Industry in Numbers 2013 released today. However tiny the victory, 2012 was the first year that the music industry had grown since 1999. More highlights:

• All the revenue streams IFPI tracks (physical, digital, performance
  rights and synchronisation revenues), with the exception of physical
  sales, increased in 2012.
• Digital channels now account for 35% of overall
  industry trade revenues, while physical sales now represent 57% of
  record companies' income.
  • Downloads remain the biggest source of digital
    revenues, with combined unit sales of track and album downloads up by
    11% in 2012.
• Music subscription services and ad-supported streaming services now account for
  20% of digital revenues globally, up from 14% in 2011.
  • Subscription and
    ad-supported revenues combined now account for almost one third (31%) of
    all digital music revenues in Europe.
• Sources of music licensing income are on the rise. Performance rights revenues
  (from broadcasts and public performance) were the fastest growing
  sector in the recording industry in 2012, accounting for 6 per cent of
  recorded music revenues.
  • Revenues grew by 9.4% globally, to US$943
    million. Income from synchronisation deals – music used in TV adverts, films and brand partnerships – were also up. These grew by 2.1% to US$337 million in 2012.
• Albums continue to hold their appeal, accounting for
  56% of recorded music sales value.
  • Digital album downloads grew faster
    than singles and vinyl sales hit their highest point since 1997.
  • Consumer usage on streaming services shows that the album format remains
    very relevant. Many of the year's best-selling albums generated a large
    streaming volume across all tracks included on the album.
• A total of 22 countries saw market growth in
  2012, including nine of the top 20 markets.
  • The US
    remains the world's largest music market; digital sales success in
    Sweden has made that country the world's 12th largest music market (up
    two places on 2011); India has also moved up the rankings.
• Emerging markets are helping fuel the industry's
  recovery.
  • Brazil, India and Mexico have seen market growth respectively
    of 24%, 42% and 17% since 2008.
  • In 2012 revenues in India reached an
    all-time high while Latin America was the fastest growing region of the
    year.