The Great Music Industry Power Shift

“The long drawn out demise of recorded music revenue is well documented, as is the story of artists, labels and managers all trying to make sense of a world in which music sales can no longer be counted upon. But the contraction of recorded revenue has occurred at the exact same time that the live music sector has undergone a renaissance. The net effect, when coupled with publishing revenue holding its own and the growth of albeit modest, merchandise revenue, is that the global music industry has largely held its own, contracting by just 3% between 2000 and 2013 (see figure). Compare and contrast with the 41% decline in (retail) recorded music revenue over the same period. Indeed it is the 60% growth in live revenue that has done most to offset the impact of declining music sales.

[…]

It is probably fair to say that we are approximately half way through a huge period of transition for the music industry. The realignment of revenue is merely a precursor to the new business models, products and career paths that will emerge to capitalize on the new world order. It is in this next phase that the real ‘fun’ will start. Expect every traditional element of the industry to be challenged to its core, expect dots to be joined and old models to be broken. But be in no doubt that what we will end up with will be an industry set up for success in the digital era.”

via Music Industry Blog | The Great Music Industry Power Shift

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