January 24, 2012, 12:31 PM — If you've been worried about the financial health of the music business, especially since last Friday, when Congress shelved indefinitely the SOPA and PIPA bills music-business moguls were counting on to halt the global pilfering of their products and profits, you can stop.
The music business is actually in pretty decent shape. Much better shape, in terms of digital sales, than any other part of the entertainment business, according to execs at the Record Industry Association of America (RIAA), the industry's professional association, Washington lobbyist and apologist.
During 2011, the number of consumers using paid subscription services rose 65 percent to 13.4 million, according to a tweet from Jonathan Lamy, SVP of communications for the RIAA, who was passing along the good news from a new report issued by IFPI (International Federation of the Phonographic Industry), the global version of the U.S.-based RIAA.
Paid digital music services are up and running in 58 countries, bringing in $5.2 billion in revenues, Lamy also pointed out via tweet.
Total revenue from digital music sales is up only 8 percent compared to 2010, but the number of countries in which digital music services sell it went up 242 percent between 2010 and 2011, from 24 countries in 2010 to 58 in 2011, according to Cara Duckworth, VP of communications for the RIAA, who was also quoting IFPI figures.
"W/more than half of all music sales coming from digital services, we know how Internet works. "Music=Innovation. Declare THAT.