However, those are not the only options. There are growing
music economies throughout the world that could eclipse the traditional markets
in the near future. I will focus on three of them – Brazil, India and The Netherlands.
From 2011 to 2012, Brazil has had a music market growth of
11.2 per cent. This has largely been down to a huge population, growing
economy, improved infrastructure, expanding middle class, increasing device
penetration and greater use of social media. Growing internet access has been
the key to this surge. Another major factor is the emergence of one of the world’s
biggest digital music platforms, itunes, which has recently been launched there.
This Latin American market is huge, and Brazil is its new leader.
A third year of consecutive growth in 2012 has seen India
emerge as one of the most powerful Asian music markets. Digital sales have
overtaken physical sales, and this has largely been down to the increased
ownership in mobile phones, particularly smartphones. The largest proportion of
sales has come through mobile channels, and with half a billion mobile
subscribers it is an extremely lucrative market.
The Netherlands has experienced the biggest growth of
digital music in Western Europe, with a growth of 66%. This has occurred
because of a growth in streaming usage and a big clampdown on illegal downloading
sites such as Megaupload, Fileserve and Filesonic. There are now more Spotify
users than Pirate Bay users in the Netherlands.
These are just a few examples of the potential that new
music markets offer to the modern musician and if subscription services carry
on growing and illegal platforms are tackled then artists will enjoy a new renaissance.
All the information featured in this article can be found in
the IPFI 2013 report.
http://www.ifpi.org/content/library/dmr2013.pdf
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