Even though the worldwide revenues for the music industry dropped by almost 4 percent, there one’s piece of good news that cannot be ignored: streaming.
According to the International Federation of the Phonographic Industry (IFPI), growth is occurring due to streaming, and services such as Deezer and Spotify are driving this change for the better.
A report suggests that revenue from streaming services such as these increased by 51 percent in 2013, making almost $1 billion last year.
This trend, which offers figures worldwide, was also reflected in British data as well, with the British Phonographic Industry (BPI) also registering an increase in income from streaming services by 41 percent since last year. This helped the growth of the British industry by 1.9 percent and which amounted to 730 million pounds.
It’s clear that despite the death of sales of the music CD, streaming is now becoming a source of income.
In fact, Spotify also claimed that almost $500 million in royalties were paid out to those holding the rights on the songs – a figure that was equal to the amount that was paid for the last four years.
With almost 24 million Spotify subscribers, the business model that focuses on building its base seeks to give back the cash to the recording companies who in turn, would give it back to the artists themselves.
Since Spotify is a start-up company, it isn’t showing any anxiousness about its losses in recent times, thanks to these heavy payouts to the music industry.
And although their aim is to have a presence in every country, one wonders whether this positive trend (and the profits that come with it!) for the music industry will last.
Related Posts
-
May 9, 2020 -
November 17, 2016 Ice cream tips and tricks
-
August 16, 2015 Do Supplies Matter at a Gelato Shop?
-
Which Hollywood Celebrities Practice meditation?
April 13, 2022 By admin -
Contacts Are Used By Pros
October 6, 2021 By admin -
-
How Gelato Has Gained Popularity
January 13, 2015 By admin -
Do Supplies Matter at a Gelato Shop?
August 16, 2015 By admin -
Dwayne “The Rock” Johnson and his World Famous Pancakes
July 30, 2016 By admin
-
Why Listening To Music Online is Better
January 12, 2011 By admin -
Want to Be Smarter? Take Up an Instrument
January 16, 2011 By admin -
How The Internet Has Changed The Medium of Radio
February 2, 2011 By admin
Categories
-
April 13, 2022 Which Hollywood Celebrities Practice meditation?
Article by Zhang Xinuye of Create Abundance Hollywood stars have very stressed lives and need to be on set at different times and for long periods. They also must travel extensively, and this plays heavily on their stress levels. Meditating has relieved them of the stress and helped them to relax and be more present…
-
October 6, 2021 Contacts Are Used By Pros
Basketball and football are a couple of the most watched sports there are. Even people who don’t follow these two sports often find that they know the names of at least a few of the top players of each, whether they were really interested in knowing or not. Perhaps one of the main reasons why…
-
May 20, 2021 The Global Spiritualists Association Supports Female Business Owners
Article by The Global Spiritualists Association. More and more women are venturing out into the world of business to start their own company. In fact, female-owned businesses are one of the sectors showing the most rapid growth these days. However, with today’s economic challenges, it can be tough for anyone to form a new company. This…