Just after the IFPI released its 2013 digital figures yesterday, US body the RIAA followed suit with its own numbers for last year. Overall, US industry revenues dipped 0.3% in 2013 to $7bn – the fourth consecutive year that it’s hovered around this mark. Within that, digital music accounted for $4.4bn of income: 64% of the overall market. Breaking that down by format: physical sales were down 12% in 2013 to $2.4bn, accounting for 35% of the overall market. Download sales dipped 1% to $2.8bn, taking a 40% share. And subscription / streaming rose 39% to $1.4bn, accounting for 21% of industry revenues. The US ended 2013 with 6.1m paying streaming subscribers, up from 3.4m at the end of 2012. Expect plenty of debate about the impact streaming music is having on the US market. Focusing on income, the decline in downloads meant around $26m of lost revenues, while the growth of ad-supported streaming alone added nearly double that – $49.1m – let alone the $228.2m of additional subscription streaming value in 2013.
Tools: platforms to help you reach new audiences
Tools :: We Are Giant
With “fan communities” being on every artist’s team’s mind, we’re fans of the fact that…