Mar 19, 2014
By Scott Walker
It was another bad year for the music industry.
Global revenue dropped by 3.9 per cent last year, mainly because of big losses in Japan. The second-biggest global market still relies primarily on CDs because there is no reliable download service. CD sales there fell by almost 17 per cent last year.
Excluding Japan, global sales still shrank by 0.1 per cent. Since the beginning of the century, music sales have plunged by 45 per cent.
The one bright spot was revenue from online subscription services, which soared by 51 per cent to cross the one-billion-dollar threshold.
The report also named the top-selling artists globally. The only Canadian on the list was Michael Buble in ninth spot.