INDUSTRY REPORT IFPI Digital Music Report 2014
New services with big global ambitions are launching, such as Beats and iTunes Radio — services that we hope will soon spread around the world. Meanwhile, the existing international services, such as Deezer, Google Play, iTunes, Spotify and YouTube are generating income in many new markets following their global expansion. The competition is intense and consumer choice is ever-widening — these are very positive dynamics in the development of the digital music landscape. It is now clear that music streaming and subscription is a mainstream model for our business. In 2011, there were eight million paying subscribers to subscription services — today there are 28 million.
Ad-supported and subscription streams are rising in most markets, helping grow overall digital revenues for record companies and artists. The music industry has become a mixed economy of diverse consumer channels and revenue streams. This has been an amazing transformation, dramatically expanding the way artists reach their fans across the globe. Reflecting this shift, IFPI has launched its Global Recording Artists Chart, which highlights the success of artists across physical sales, downloads and streaming. The chart, launched in 2014, is a new metric of success reflecting the popularity of artists across the various ways consumers enjoy music. Congratulations to One Direction for being the first act to top this unique new chart.