Industry Publication Values Music Industry at $47.6B
The value of the global music industry reached $47.6 billion in 2001, according to a report by British industry publication Music Week. The figures cover recorded music sales, music publishing, ticket sales for live events, merchandising and sponsorship, and Music Week said Wednesday they mark the first attempt to place a value on the global music universe. Sales of recorded music in 2001 accounted for 70 percent of global revenue, around $33.3 billion, with ticket sales for live events providing the second-highest revenue source at around $6.5 billion, the report said. Music publishing provided $4.6 billion, with merchandising and admission… Read more »
