The global music industry has reported its first increase in revenue since 1999., thanks to on-demand music services such as Spotify, Rdio and artists such as One Direction, Justin Bieber, Adele, Psy and others, who have all achieved global success.
Frances Moore, chief executive of the International Federation of the Phonographic Industry (IFPI) says, “the industry is on the road to recovery. He adds, “the rise represents a hard-won success for an industry that has innovated, battled and transformed itself over a decade. The music industry has adapted to the internet world and learned how to meet the needs of consumers.”
NME reports, however, the IFPI study did not brush over the continuing problem of piracy in the music industry and called upon Google to prioritize legal download sites in its search results. Moore said: “This growth is still fragile. Google needs to prioritize legal sites in its searches. Far from copyright ‘smothering innovation’, music, based on copyright, is driving the digital economy. Music is driving social network sites. The highest number of searches on Facebook and Twitter are for music artists.” The study revealed that 32 percent of all music users still use illegal file-sharing sites every day.