Global Music Sales Slide

Global music revenues are on the decline, driven by a decrease in CD sales in Japan.

Streaming services have apparently failed to catch on in the country, which saw revenues fall nearly 17 percent in 2013 given soft sales of CDs and ringtones, according to the International Federation of the Phonographic Industry.

Elsewhere, streaming services are reportedly helping to offset declining CD sales and the federation noted the number of paying subscribers to such services rose 40 percent in 2013 to 28 million.

Global digital music revenues grew 4.3 percent to $5.9 billion last year and performance rights revenues grew 19 percent to $1.1 billion.

In the U.S., total music revenue increased by $7 billion in 2013, the Recording Industry Association of America reported.

Music subscriptions skyrocketed 79 percent to 6.1 million and streaming revenues increased 39 percent to $1.4 billion, but sales of physical music albums fell 12 percent to $2.4 billion.