Statistics of the changing spectrum in the music industry
The business of music industry has gone through a lot of changes that affect a lot of areas of society and of life, as we know it. One of the biggest changes that affect it is the advancement in technology that allows the entire world to be a part of it and participate in it. The other enormous factor that has played a big role in it are the sweeping changes in the legalities that had to be made to enable the new technology to be regulated and to govern the production and distribution of music industry in the digital age.
We’re going to enlighten you with some of the statistics that will show you the phenomenal growth. We used a service called Grab Stats to show us the figures from 2006 and projections into the year 2011 so you can see what we are talking about. The figures and projections are as follows:
2006 – $60.7 billion
2007 – 61.5 billion
2008 – $62.6 billion
2009 – $65.0 billion
2010 – $66.4 billion
2011 – $67.6 billion
Now if you look at these figures you will no doubt come to the conclusion that the music industry is not booming but it certainly is on a steady rise that is expected to continue into the future. The changes in technology have played a major part in this increase if numbers. If we once again look at the numbers from Grab Stats we find that Digital Music Production and sales have had a meteoric rise in sales and the statistics and forecasts for the future are just as stellar with an over 400% increase in revenue. The figures on these are as follows:
2006 – $2.9 billion
2007 – $4.5 billion
2008 – $7.0 billion
2009 – $10.7 billion
2010 – $12.9 billion
2011 – 14.8 billion
Another interesting bit of information that we gleaned from Grab Stats was regarding the controversial music sharing issue. The Grab Stats numbers show us some rather dismal stats about it. In a survey conducted on households in the United States alone it looks like 70% of the people that responded regularly use an illegal P2P site to share and download music and only about 37% of people use legal services to get their music. It also showed that 10% of people share music files illegally via email and a full11 % of us share the files via an Instant Messenger service. No matter how you cut it, slice it or dice it that is one rather large slice out of the monetary end of the music industry pie that we as professionals work very hard to get.
Read some interesting and useful information on music industry. Visit http://mymusiccircle.com/ to know more about music professional.
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