The IFPI has highlighted the promising growth in three key emerging markets as it reveals its Recording Industry In Numbers 2013 report – India, Brazil and Mexico.
India’s recorded music income reached a record high point in 2012, according to the report – the apex of a market growth of 42% since 2008. It moves up two places to become the 14th biggest recorded music market in the world.
Revenues in 2012 totalled $146.7 million – up 22.1% year-on-year. Physical formats claimed 31% of the market, pulling in $45.4m compared to $51m in 2011. Digital formats pulled in $88.4m, up $31m from 2011. Performance rights revenue claimed $10.4m in 2012 with sync revenue generating $2.5m.
Brazil and Mexico have been especially highlighted in the IFPI report, with market growth of 24% and 17% since 2008 respectively.
Brazil’s recorded music business generates $257.2m in 2012, up 8.9% year-on-year. Mexico pulled in $144.5m, up 8.2%.
Overall global recorded music trade revenues grew 0.2% in 2012, according to the IFPI data – the first year of growth since 1999. Income totaled $16.5 billion.Music Business Worldwide