“If you go against the wave, like the music industry- you get wiped out”- Dr. Michio Kaku, Feb 2016
We are in the midst of the digital revolution. Some call the development of the Internet our destruction, some herald it as what will be our great redeemer- but whatever the outlook, the fact that the Internet stands as the greatest communications infrastructure ever created still stands. With so much information made available to so many at the touch of a fingertip it’s hard to imagine any industry that hasn’t been transformed by it- catalysing many inventions and business models from it’s webby fingertips. The music industry is no different, in fact the changes of the digital revolution lie embedded deep in the heart of the landscape of our modern industry, affecting the way music is made, monetised and consumed every single day.
According to the IPFI (2015), the industries global digital revenues are up to 6.85 Billion US dollars- in 2014, for the first time the same proportion had been made from digital as from physical formats- although digital had been increasing year on year, going from 4.4 billion in 2009 up to 6.9 in 2014.
Read the full report here: Digital Music Report 2015