Thursday, January 29, 2009

The Day The Music, Did Not Die

Some notes and figures regarding the state of the music industry and its digital impact (all pulled from the 2009 Digital Music Report):

  • 20% of all revenues in the music industry come via digital (source: PWC Global Entertainment and Media Report.
  • Interesting (and intelligent) quote: “ A big album worldwide will sell about seven million units but many more people will enjoy the album. This is about lighting up all these other consumers.” - Rob Wells, Senior Vice President, Digital, Universal Music Group International.
  • 95% of music is still being downloaded in an illegal fashion.
  • The US accounts for 50% of the global digital music category (go iTunes).
  • The #1 one downloaded single in 2008 was Lollipop, by Lil Wayne. He sold 9.1MM units.
  • Most industry execs foresee the growth of digital music tied to mobile platforms. I agree.
  • iTunes has sold more than 6 billion songs since launch.
  • 20-30% of MySpace traffic was driven to unique music destinations in the platform in 2007, and probably higher in 2008.
  • There are more than 1.8MM rock acts on MySpace Music, and more than 2.5MM hip hop acts.

That's just a summary. Lot's more to read.

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