​Digital music sales worldwide hits US$6.9 bn — Report

Revenues from digital music services worldwide ​​have ​for the first time match​ed​ those from physical format sales, ​a report by ​​the ​International Federation of the Phonographic Industry​ says.

​T​he London-based body ​​said digital revenues rose by 6.9 per cent to US$6.9 billion.

The amount represented 46 per cent of all global music sales and underlined the transformation of the global music industry over recent years, it added.
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Subscription services accounted for 23 per cent of the digital market and generated US$1.6 billion​. That category​ was led by three major global players YouTube’s Music Key, Jay Z’s TIDAL and Apple’s subscription service.

In the physical business, Vinyl sales also increased by 54.7%, and now account for 2% of global revenues​,​ while Physical sales still dominate in a number of key worldwide markets including France (57%), Germany (70%) and Japan (78%).

Elsewhere in the industry, performance rights income increased by 8.3 per cent​,​ accounting for 6 per cent of total industry revenues or US$948 million.

Synchronisation revenue also increased by 8.4 per cent in 2014 to represent 2 per cent of the market.

IFPI also listed rise of streaming, bundling partnerships by leading telecoms companies offering bundled music services to their customers, new digital payment and models​.

​Artist​s’​ royalties were also responsible for the growth in the digital music sales.

Global singles and album charts

The music body also released its global singles and album charts and as expected, African musicians or musical albums were not on the lists.

Frozen was ranked top of the IFPI global album chart. The album topped the charts worldwide, in countries from Argentina to Japan, and sold around four million copies in the US alone.

The Academy Award-nominated Happy, the lead single from Pharrell Williams’ albumGIRL was ranked in the top slot of the IFPI 2014 global digital singles chart.

Taylor Swift became the second recipient of the IFPI’s Global Recording Artist award in 2014. The chart aggregated sales and streams of artists’ catalogue across a range of formats from CD sales to YouTube video streams.

Global top 10 albums 2014

Rank	Artist	Album	Total units (m)
1	Various Artists	Frozen	10.0
2	Taylor Swift	1989	6.0
3	Ed Sheeran	x	4.4
4	Coldplay	Ghost Stories	3.7
5	Sam Smith	In The Lonely Hour	3.5
6	One Direction	FOUR	3.2
7	AC/DC	Rock or Bust	2.7
8	Various Artists	Guardians of the Galaxy: Awesome Mix Vol. 1	2.5
9	Pink Floyd	The Endless River	2.5
10	Lorde	Pure Heroine	2.0

Source: IFPI. Physical and digital albums included. Streams excluded

Global top 10 digital singles 2014

Rank	Artist	Single	Total sales (m)
1	Pharrell Williams	Happy	13.9
2	Katy Perry feat. Juicy J	Dark Horse	13.2
3	John Legend	All of Me	12.3
4	Meghan Trainor	All About That Bass	11.0
5	Idina Menzel	Let It Go	10.9
6	Pitbull feat. Ke$ha	Timber	9.6
7	Iggy Azalea feat. Charli XCX	Fancy	9.1
8	Ariana Grande feat. Iggy Azalea	Problem	9.0
9	MAGIC!	Rude	8.6
10	Enrique Iglesias feat. Sean Paul, Descemer Bruno, Gente De Zona	Bailando	8.0

Source: IFPI. Units include single-track downloads and track-equivalent streams.