Global Sales Fall In 2013, Steaming Sales Hit Over 1 Billion
Posted by Joseph Lee on 03.19.2014
A new report...
According to a new report by global record industry body IFPI (via NME), global music sales fell in 2013 thanks to a drop in Japan. The sales fell by 3.9% with $15 billion spent on music last year. Japan, the fifth largest market worldwide, fell by 16.7%. In 2012, sales rose by 0.3% for the first time since 2009.
Streaming sales went past the $1 billion mark for the first time ever. Paid subscriptions to sites like Spotify and Deezer increased by 51% for a total of $1.1 billion. The number of paid subscribers went up from eight million in 2011 to 28 million in only two years.
IFPI chief executive Frances Moore said: "It is now clear that music streaming and subscription is a mainstream model for our business."
One Direction's Midnight Memories was the highest-selling album of last year with four million, followed by Eminem's The Marshall Mathers LP 2 (3.8 million) and Justin Timberlake's The 20/20 Experience (3.6 million).
Physical sales of CD and vinyl fell by 11.7% to $7.73 billion, but it still accounts for over half the total music sales. Japan hasn't been as open to digital music, but the physical media decline is due to overall sales dropping. If you left out Japan, global sales would have only dropped 0.1%.
Spotify chief content officer Ken Parks said: "Streaming is the way people are consuming music. The debate about whether it's a model to embrace has been put to rest over the last year."