Digital Music Sales Grow In 2011

Digital Music Sales Grow In 2011

Digital Music Sales Grow In 2011
Global revenue from digital music sales increased 8 percent to $5.2 billion in 2011, up from $4.6 billion in 2010 and accounting for 32 percent of total music revenue, according to IFPI's "Digital Music Report 2012." Single track downloads were up 11 percent in volume, while digital albums grew 24 percent in volume. Digital music services such as iTunes and Spotify expanded into 58 countries by the end of 2011 (from 23 percent at the beginning of the year), while total paying music service subscribers grew 65 percent to 13.4 million. (1/23)

Vevo To Partner With Facebook?
Music video provider Vevo, a joint venture between Universal Music Group, Sony Music Entertainment and Abu Dhabi Media Company, is reportedly in preliminary discussions with Facebook regarding a potential partnership following the expiration of Vevo's current deal with YouTube, according to The pairing would give Facebook rights to stream music videos through Vevo in an effort to expand its social music section. Vevo and YouTube currently have one year remaining on their agreement. (1/23)

Iggy Pop Named Record Store Day Ambassador
GRAMMY-nominated artist Iggy Pop has been named ambassador for the fifth annual Record Store Day, set to take place on April 21 at record stores around the world. Record Store Day 2011 drove an 8 percent increase in overall album sales and a 697 percent sales increase in vinyl singles. (1/23)

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