Perhaps a record deal is a good idea after all? 04/10/04
In a report out this morning from the IFPI, music sales grew by 1.7% over the same period last year. Videos and DVD sales benefit from a whopping 20% increase. These figures come after many months of doom and gloom from the impoverished record companies who, to be fair a have really had a cut of revenue from the proliferation of MP3 downloads via the internet.
The figures, including a summary of the world's top ten markets, were published today by IFPI, representing the recording industry worldwide. IFPI has over 1,450 major and independent record company members in more than 70 countries.
According to the IFPI, “The US music market is leading the recovery, while markets such as Canada, Germany and Japan are showing a substantial reduction in their rate of decline. But other markets including Spain, Italy and the Netherlands are still weak, and more recent reversals have hit sales in France and Australia”
Jay Berman, IFPI Chairman and CEO said: "There are some signs that the world's markets are beginning to recover, boosted by the continued growth of DVD music video, digital sales and added-value releases. However, markets continue to be hampered by the dual effects of commercial and internet piracy. IFPI and its national groups are continuing to persuade music fans to download from legitimate music sites, and not file-share illegally. More and more consumers are using authorised download services - a distinctly positive sign."