HITS Daily Double

IFPI Reports Digital Uptick

DIGITAL SALES ON THE RISE: Global music trade organization IFPI issued their annual Digital Music Report this morning, showing global recorded music industry revenues increased by an estimated 0.3% in 2012, the first year of industry growth since 1999, to $16.5 billion. Digital revenue increased by 9% to $5.6 billion, accounting for a little over a third (34%) of global revenue. Download sales were up by 12%, representing 70% of overall digital music revenues. The number of people paying for subscription services leaped 44% to 20 million, accounting for more than 10% of digital revenues for the first time. Digital retailers are now available in more than 100 countries, up from 23 at the start of 2011. Two-thirds of internet users (62%) have used a licensed digital music service in the past six months. Among younger consumers (aged 16-24) this figure jumps to 81%. In the non-digital area, performance rights income increased in value by an estimated 9.2% in 2012 and now accounts for around 6% of overall industry revenues, up from 3% in 2007. So stop your whining, folks. (2/26p)