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Streaming revenues were up 45 percent in 2015 thanks to the
growth of smartphones and licensed quality subscription services
as overall global music proceeds grew 3.2 percent to $15
billion, the International Federation of the Phonographic
Industry said in its annual report.
Revenues from digital delivery now made up 45 percent of total
earnings compared to the 39 percent share from physical sales,
it said.
"After two decades of almost uninterrupted decline, 2015
witnessed key milestones for recorded music: measurable revenue
growth globally; consumption of music exploding everywhere; and
digital revenues overtaking income from physical formats for the
first time," said IFPI Chief Executive Frances Moore.
"They reflect an industry that has adapted to the digital age
and emerged stronger and smarter."
IFPI said digital revenues had risen by 10.2 percent last year
to $6.7 billion which had helped offset the decline in the sales
of CDs and other physical formats.
Streaming had grown to such an extent it was close to overtaking
the sums earned from downloads, with an estimated 68 million
people now paying for a music subscription.
However, the IFPI warned there was a "fundamental weakness"
behind the improved revenues because the record consumption of
music was not resulting in a fair remuneration to artists or
record labels.
Moore said new laws were needed to stop some major digital
services using "safe harbor" rules in U.S. and European
legislation which give immunity from copyright violation because
users post music and other content themselves.
"They were not designed to exempt companies that actively engage
in the distribution of music online from playing by the same
rules as other online music services," Moore said. "The effect
is a distorted market, unfair competition and artists and labels
deprived of a fair return for their work."
(Reporting by Michael Holden; editing by Stephen Addison)
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