Overview of the music industry

Overview of the music industry

The music industry has changed over the last view eras and what we as the audience watch and listen to has adapted and changed the perception of how the music industry is.

Here are some statistics:

·      $15b is how much the music industry was worth in 2013.

·      $4.5b is the record companies’ annual investment in A&R and marketing.

·      39% is the proportion of the global industry revenues from digital channels.

·      +19% is the growth in performance rights revenue in 2013.

The music business continues to expand into new markets and create new business models, attracting more users to digital music services and bringing artists to a wider global audience. Making the artists attract more of a wider target market, which means that they buy more products, bringing in more total revenue.  

Here are the most global selling albums in 2013

 Here are the top selling singles of 2013