WildBlueSkies - Trends and strategies in Digital Media

As consumers lose interest in compact discs and shy away from paying for the digital alternatives, the International Federation of the Phonographic Industry estimated that worldwide digital music sales rose to $2.9 billion last year, up from $2.1 billion a year earlier, which makes up about 15% of overall sales, up from 11% a year earlier and the less than 1% in 2003.
But digital sales have yet to make up for the shortfall in sales of compact discs, and overall sales of recorded music fell about 10% last year, to $17.6 billion, the federation told the New York Times.
In the meantime, the recording industry is broadening its search for revenue. The trade group plans to step up a campaign to hold Internet providers responsible for stopping piracy over their networks, and under a recent agreement, karaoke bars in China would now recognize audiovisual rights to music videos and would collect fees.
Isn’t it time the music industry understood the medium and started leveraging the benefits that the Internet provides?

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Filed under: Digital culture