2009 Global Music Sales Down, Digital The Lone Growth Area
April 28, 2010 at 4:49 AM (PT)
The INTERNATIONAL FEDERATION OF THE PHONOGRAPHIC INDUSTRY, looking at 2009 music sales figures, reports a mixed picture, with a return to growth in 13 markets and digital music sales growing strongly, although music piracy continues to be a major problem for the industry.
SUSAN BOYLE, who became an overnight sensation on "Britain's Got Talent" show, had the best selling album of the year with "I Dreamed a Dream," which sold 8.3 million units. Other top-selling artists included THE BLACK EYED PEAS, MICHAEL JACKSON, TAYLOR SWIFT and LADY GAGA. Five of the top-10 best sellers were signed to UNIVERSAL MUSIC GROUP, with the others on SONY and WARNER MUSIC GROUP.
"The global music business is continuing to fight its corner, investing in talent and developing new business models despite the problems of a market rigged by piracy," IFPI Chairman/CEO JOHN KENNEDY said in a statement. "Music companies are investing over $5 billion a year in developing and marketing artists, licensing hundreds of services and adapting their distribution channels to meet changing consumer demand."
REUTERS reports "The U.S. and JAPAN made up 80% of the overall market decline, while the worldwide decline in revenue outside those two markets was 3.2%. Physical sales of music such as CDs fell by 12.7% globally, while digital music sales rose by 9.2% to $4.3 billion."