Music sales up 14% as industry fights back
New figures show UK music firms are earning a growing share of revenues from activities other than the selling of CDs and digital downloads - licensing songs, merchandising, tours and Guitar Hero help grow sales. Since online music stores entered the mainstream in 2004, consumers have bought more than 200 million downloads but firms will make increasingly more money from activities such as licensing its music for commercial use, such as TV adverts, films and games. Companies are also pinning their hopes on so-called “360 degree deals”. They see merchandising, touring, use of artists’ logos and sponsorship as potential money-spinners. You knew all this - you heard it here first with my new best friend Mattieu from Warner Music.
Tags: Careers in music, CDs, Computer gaming, EMI, Guitar Hero, Marketing, Music industry, Time Warner
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