Quantcast

Music Marketing Author and Course Instructor

Blog Post
2008 Music Biz Revenue up 4.7% in UK – Diversification Key

Posted on 7/22/2009

Interesting report released this week by Will Page, chief economist at PRS for Music, the UK’s performance rights organization. The entire report can downloaded here, but the details, in a nutshell:

* The value of the recorded music biz fell 6%
* The value of the live music industry in the UK increased 13%
* Licensing revenues from labels increased 7%
* Other publishing revenues increased 7%
* Digital music grew by almost 50% in 2008, with physical declining by roughly 10%

“Ultimately we’re going from a market which lots of revenue came from one very big source,” said Will Page, “to one where we’re generating many different sources of revenue, some will be big some will be small – but they will all matter more going forward.”

Not all the information is rosy for developing artists. As highlighted by Glenn Peoples from Billboard, in both digital sales and live music, there is a growing income disparity. “This growing inequality between heritage acts and the rest of the pack mirrors a separate trend identified in digital music,” wrote PRS, “where more choice led to a widening gap between the hits and niches.” Popular, older artists are demanding higher ticket prices. The growth of secondary ticketing services – their revenue is included in the study – has fueled the growth in ticket prices. But mid-tier artists, those who cannot raise prices seemingly at will, are a cause for “real concern.” The same can be said for sponsorship and advertising dollars, which often are titled in favor of the most popular artists. In effect, advertising agencies now act as a gatekeeper that benefits the select few who pass through.

Blog Index

Interview with Don Passman
    posted 11/18/2009

Clay Shirky on Social Media
    posted 8/6/2009

Covering an Entire Album in a Day
    posted 6/18/2009

Goodbye Jay Bennett
    posted 5/26/2009

This Old Argument Again
    posted 5/22/2009

How to Get Your Music in TV and Film
    posted 3/24/2009

Mother of All Funk Chords
    posted 3/12/2009

Changes at Touch and Go
    posted 2/19/2009

Estelle Bennett – Ronettes
    posted 2/16/2009

Radiohead at the Grammy Awards
    posted 2/9/2009

Apple and the Replacement Cycle
    posted 1/25/2009

Lessig on Colbert
    posted 1/10/2009

Using uStream to Host a Webcast
    posted 11/19/2008

Top 20 Online Promotions for October
    posted 11/8/2008

Talk About Leveraging New Technology!
    posted 10/14/2008

How To Sell Music On Your Website
    posted 9/8/2008

The Word of Mouth Manual Volume II
    posted 7/21/2008

SXSW Interviews
    posted 4/19/2008

Record Store Day
    posted 4/17/2008

SXSW
    posted 3/16/2008

Why I am a fan of TuneCore
    posted 3/4/2008

How to get your music on iTunes
    posted 2/4/2008

The Trouble with the Future of Radio
    posted 12/3/2007

More losses at Big Box retail
    posted 11/25/2007

The (growing) Cost of Doing Business
    posted 10/30/2007

iTunes drops price of DRM-free music
    posted 10/17/2007

Instant Music
    posted 10/10/2007

Very Legit iTunes Rival
    posted 10/1/2007

Quote of the Year
    posted 9/21/2007

Prince and the Devolution?
    posted 9/14/2007

Does Street Date Still Matter?
    posted 9/13/2007