Music: Audiences and Institutions Digital Music Report 2010 Revision Notes
In 2009 more than ¼ of record companies revenues came from digital Fans can now acquire tracks and albums in ways inconceivable a few years ago – through download stores, streaming sites, subscription sites, free-to-user sites, bundled with their broadband or mobile handset. $4.2 Billion worth of digital music business Global music sales down by 30% from 2004 – 2009
The ifpi blame the downturn on digital piracy Digital piracy not just a problem for the music industry, but for film, TV, books and games September 2009 Lily Allen spoke out against P2P – saying it has a negative impact on young artist's careers – Matt Bellamy from Muse agrees In 2009 legislation requiring ISP (Internet Service Providers) to tackle P2P piracy adopted in France, South Korea and Taiwan.
In the US, the world's largest music market, online and mobile revenues account for 40% of music sales Labels look beyond CDs and legal downloads to raise money – they licence over 11 million tracks to 400 legal music services worldwide. Technological convergence has opened up revenue streams unheard of a few years ago
Labels have partnered add supported services such as Spotify, Deezer, MySpace Music and We7; Universal and Sony work together to launch VEVO Spotify CEO Daniel Ek states that the primary target of Spotify is to migrate illegal file sharers to its service; 15-25 year olds shifting from P2P to Spotify, M-Flow and Last FM