Tiny Mix Tapes. Blaming Piracy, Music Industry Says It's Lost a Third of Its Value Over Past 7 Years. It's a familiar refrain from the music industry: revenue is down and piracy is to blame. That's the gist of the the International Federation of the Phonographic Industry's (IFPI) annual Digial Music Report, which points to a slowdown in the growth of digital music sales. While digital music revenue has grown 1,000% over the past seven years, the entire music industry has lost a third of its value over that same time period. And while digital music seems to represent both the best hopes and the worst fears of the industry, even its growth is slowing - only 6% last year, down from 9.2% growth in 2009. Digital sales comprise about a third of the industry's total revenue.
Pirates (Not Inflexible Business Models) Are to Blame "While record companies are innovating and licensing every viable form of music access for consumers," says IFPI chief executive Frances Moore, "the music industry is still haemorrhaging revenue as a result of digital piracy. " Will Subscription Services Save the Industry? Music News, Reviews, Articles, Information, News Online & Free Music.
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