eMarketer Finds Value Of The U.S. Music Industry Fell To Just $7 Billion Last Year
January 7, 2014 at 3:50 AM (PT)
eMARKETER notes the 21st century has not been kind to the U.S. recording industry. Since peaking at $14.6 billion in 1999, the business has shrunk to less than half its size, barely besting $7 billion in 2012, according to a new eMARKETER report, “Marketing Opportunities in Digital and Live Music: More Musicians Say, ‘I'm With the Brand.’”
To put the industry’s current valuation into perspective, SAMSUNG and THE COCA-COLA CO. combined spent more than $7 billion on marketing in 2012.
Clearly, brands are in a position to invest, and some see plenty of upside in music properties. As a result, they are getting involved in ways that were unimaginable as recently as a few years ago, including launching new releases, running recording studios, nurturing underground talent, making music videos and creating original programming.