Music
is hitting a high note. Despite other economic downturns, the record industry
is making a comeback based on two music industry reports released on Tuesday. According to the Hollywood
Reporter, the International
Federation of the Phonographic Industry asserts a 0.3% increase in global music
industry revenue to $16.5 billion since last year -- that may seem like a
modest bump but it’s the first music industry uptick since 1999.
"For the music industry, which
has been battling digital piracy for over a decade, last year was a year of
progress,” concurs Russ Crupnick, SVP of the NPD Group.
Adding bounce to the ball is
digital. Download, subscription
and advertising-supported venture revenues increased 9% to $5.6 billion in
2012, while the number of people subscribing to a service has increased by 44%
to represent 20 million worldwide, NPD reports.
Consumer habits are also changing.
Though illegal downloads still represent a threat, there has been a significant
decline in the estimated volume: -44% for ripped and burned files; -28% for downloads
from file-sharing sites; -26% in illegally downloaded music; and -9% for P2P
devices since its high in 2006.
As Queen Beyonce self-queries, “Who run the world? Girls.” Leading
the music industry’s rebound are women like Adele, Taylor Swift, and
Carly Rae Jepsen. Carly Rae leads
in 2012 single sales with 12.5 million units moved. Adele’s 21 was 2012’s biggest seller responsible for more
than 8.3 million in unit sales ahead of the 5.2 million units sold of Taylor's Red album.
According to Forbes,
other top-earning female artists in 2012 include Britney Spears ($58m), Taylor ($57), Rihanna ($54m), Lady Gaga
($52m), Katy Perry ($45m), Beyonce
($40m), Adele ($35m), Sade ($33m), Madonna ($30m), and Shakira ($20m).
