Bloomberg | Article Link
Hundreds of online
music services licensed by record labels in recent years have done little to
stem rampant illegal downloading, which is pushing down the value of recorded
music.
Digital piracy is still rising along with websites and forums linking to content accessible by piracy services, the International Federation of the Phonographic Industry said in its annual report today. Global revenue from music via the Internet and mobile phones rose 6 percent to $4.6 billion, accounting for 29 percent of record companies’ sales. The rate of growth was less than 2009’s 12 percent increase.
Record companies have been licensing online music services such as Spotify and Rdio and relying on premium ads around online videos to help make up for a drop in CD sales as more physical shops shutter and online piracy shows no signs of waning. Brazil and Spain are among countries with the highest proportion of people visiting unlicensed music sites, and the majority of content distributed on file-sharing networks infringes copyright, the IFPI said.
Digital piracy is still rising along with websites and forums linking to content accessible by piracy services, the International Federation of the Phonographic Industry said in its annual report today. Global revenue from music via the Internet and mobile phones rose 6 percent to $4.6 billion, accounting for 29 percent of record companies’ sales. The rate of growth was less than 2009’s 12 percent increase.
Record companies have been licensing online music services such as Spotify and Rdio and relying on premium ads around online videos to help make up for a drop in CD sales as more physical shops shutter and online piracy shows no signs of waning. Brazil and Spain are among countries with the highest proportion of people visiting unlicensed music sites, and the majority of content distributed on file-sharing networks infringes copyright, the IFPI said.