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Vinyl sales soar as industry prepares for Record Store Day 2016

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For nearly a decade, the third Saturday in April has become an unofficial holiday for vinyl collectors and music enthusiasts across the globe.

On Saturday, April 16, 2016, eager crate diggers will once again set their alarms early in anticipation of Record Store Day, a music community celebration which aims to gather artists, customers, and staff to celebrate the unique culture of a record store and the special role these independently owned stores play in their communities. Each year, limited edition vinyl and CD titles are made available exclusively for the event. with many of the stores also running special sales throughout the day.

In Canada, an appetite for high-quality sound, artwork and a tangible product has lead to soaring vinyl sales. In 2015, vinyl posted its tenth consecutive year of sales growth, and experienced its biggest overall vinyl sales total in the SoundScan era, with a sales increase of 30% over 2014.

According to IFPI’s 2016 Global Music Report, Canada ranks #5 in top global vinyl sales, pushing 1.3 million units in 2015. Despite the sales surge, vinyl remains a niche portion of the physical market, which contributed 35% to Canada’s recorded music revenue in 2015 largely driven by CD sales. In 2015, digital revenue surged to 52% of Canada’s market share due to the rise in streaming service subscriptions. However, for labels and artists, the revenue generated from the sale of vinyl remains far greater than the revenue generated from free, ad-supported streaming services, due to what is known as the “value gap.”

While vinyl’s resurgence is excellent news for labels and artists, the few remaining North American pressing plants are struggling to keep up with the demand as aging equipment can lead to unforeseen delays for new releases. In 2015, Canada Boy Vinyl in Calgary, AB, opened its doors and is currently listed as the only vinyl pressing plant in Canada.

In Toronto, ON, a new startup aims to fix the issue of plant delays and their backlog of orders. Viryl Technologies, who will join Alan Cross on a panel for a free Record Store Day Music-Technology Meet Up, has developed their prototype “The Warmtone”, which uses digital technology to press up to three records per minute, an increase from the industry standard 35 seconds per unit.

Regardless of production delays, over 150 stores across Canada will participate in Record Store Day, stocked with thousands of new and vintage titles ready to be spun. The full list of participating Canadian record stores can be found at Record Store Day Canada’s website.

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Canada Outpaces Global Music Revenue Growth in 2015 but Outlook Remains Cautious

The global music community celebrates a return to revenue positive in 2015 with a 3.2% growth of industry revenues to US$ 15 billion, while Canada more than doubles this upswing with an 8.3% increase, helping to make up for a double digit loss in 2014.

Driven by a strong release schedule and explosive growth in premium subscription services, largely the result of new entrants in the Canadian market, 2015 finished as an exceptional year for the Canadian music industry. In fact, three of the top ten global recording artists in 2015 were Canadian: Justin Bieber at number four, Drake at number nine and The Weeknd rounding out the top ten.

Despite these positive results however, it is too early to confidently declare a reversal in trends, given that losses in 2012 (-2.9%), 2013 (-5.4%) and 2014 (-11.0%) followed immediately after the positive 2011 figures (+3.1%), which marked the first revenue growth in this century in Canada.

Complete global figures and analysis were released today in IFPI’s Global Music Report 2016.

Highlights of Canada’s 2015 Music Revenues:

  • Digital revenues surge to 52% of total revenues (US$173.5 million), somewhat higher than the global share of 45%
  • Premium streaming revenues explode in Canada, with a 151% increase (US$29.4m in 2015 v. US$11.85m in 2014), overtaking ad-supported streaming revenue, which only grew 32% (US$19.49m in 2015 v. US$14.76m in 2014)
  • Physical revenues in Canada make up 35% of the market (US$ 118.9million), slightly lower than the global share of 39%
  • Performance rights revenues are 11% in Canada compared to 14% globally
  • Synchronization rights are 2% compared to 2% globally

In Canada, as in other countries around the world, a record volume of music is being consumed, yet artists and producers are not enjoying fair compensation, primarily because upload services like YouTube are not paying normal music licensing rates due to the misapplication of a legislative framework called “safe harbours”. This has created what is known as the “value gap”. Furthermore, the “value gap” has resulted in a distorted market, where premium services are forced to compete unfairly with other services that use copyrighted content to build their businesses, but do not pay fair rates.

“In Canada, where premium streaming has had such a significant positive effect on our market in 2015, the “value gap”, where ad-supported services benefit from lower-than-normal licensing rates, causes immense concerns,” says Graham Henderson, President & CEO of Music Canada. “We hope that legislators will work with the music community to address this market distortion and reduce the gap so that rights holders are compensated fairly for their work.”

Complete market information for Canada and all other national markets will be released on Thursday, April 14, 2016 by IFPI.

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Three Canadian artists included in IFPI’s Top 10 Global Recording Artists 2015 list

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International music trade body IFPI has announced their list of 2015’s top global recording artists, and Canadian artists Justin Bieber, Drake, and The Weeknd make up three of the top 10 positions. The multi-Platinum Canadian artists dominated Billboard’s US Hot 100, and charts worldwide, in 2015 with hits like “What Do You Mean?”, “Hotline Bling”, and “I Can’t Feel My Face”. In Canada, Drake’s album If You’re Reading This It’s Too Late and The Weeknd’s Beauty Behind The Madness were certified Platinum, while Justin Bieber’s Purpose was certified Triple Platinum.

UK singer/songwriter Adele was announced as the recipient of 2015’s Global Recording Artist of the Year award, following the success of her chart-topping third album 25. The album’s lead single, “Hello”, was number 1 in more than 30 countries worldwide and has been certified 6X Platinum in Canada since its release. 25 was officially certified Diamond in Canada, selling over 800,000 copies since its November 2015 release.

Adele is the third recipient of the award, which reflects an artist’s worldwide popularity across physical formats, downloads and on-demand streams. Last year’s winner Taylor Swift lands at #3 in 2015, while 2013 winners One Direction move to #5.

The full top 10 list can be viewed below and visit IFPI’s release for more information about the award.

 TOP 10 GLOBAL RECORDING ARTISTS 2015

1 Adele
2 Ed Sheeran
3 Taylor Swift
4 Justin Bieber
5 One Direction
6 Coldplay
7 Maroon 5
8 Sam Smith
9 Drake
10 The Weeknd
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“New Music Fridays” Go Live as Albums and Singles Switch Over to Global Release Day

From Friday July 10th, new music releases will be made available for fans to enjoy on the same day across the world, as the switchover is made to “New Music Fridays”.

Until now, tracks and albums have been released on different days of the week in different countries – from Mondays in markets such as France and the UK, through Tuesdays in the US and Canada and to Fridays in markets such as Australia and Germany.

The change means that fans can now get new music on the same day worldwide rather than having to wait for their own national release day. It replaces the patchwork of national release days which meant fans were frustrated and unable to access music in their own country when it was legally available elsewhere.

The switchover to “New Music Fridays” is being implemented by labels, retailers and artists internationally and will establish an aligned global release day in more than 45 countries.

Frances Moore, chief executive of IFPI, said: “The switch to New Music Fridays is about getting new music to fans at the time they most want to enjoy it, whether in physical stores or online. It’s also an opportunity to recreate excitement around the release of music – the message is “Think Friday, Think New Music.”

Fans, industry professionals and anyone else looking for information on the switch to a Friday release day can visit www.newmusicfridays.com which has all the details of the changes taking place.

 

The first “New Music Friday” worldwide

There are several albums being released on the first “New Music Friday” including Years & Years’ Communion (Polydor), Owl City’s Mobile Orchestra (Republic), Little Boots’ Working Girl (Repeat Records), R5’s Sometime Last Night (Disney), Veruca Salt’s Ghost Notes (El Camino) and Kidz Bop’s Kidz Bop 29 (Razor & Tie).

Singles releases in key markets include Little Mix’s Black Magic (Syco) and Nick Jonas’ Chains (Island) in the UK and Taio Cruz’s Do What You Like (Island).

 

A worldwide switchover

“New Music Fridays” will be established in more than 45 recorded music markets worldwide.. Of these, 11 countries already release music on Fridays, while the others will switch the day that new albums and singles become available.

The switch to global “New Music Fridays” has been overseen by an international steering group made up of the following organisations:

  • IFPI, representing some 1,300 record labels worldwide;
  • WIN-Impala, representing independent record labels worldwide;
  • FIM, representing musicians’ unions and associations globally;
  • Featured Artists Coalition representing UK performers;
  • Entertainment Retailers Association (ERA) (UK);
  • Music Biz (US).

 

Consumer research

Independent research suggests that music fans wanted new music to be available at the start of the weekend. Consumer research by TNS across seven markets[1] shows Friday and Saturday as the preferred days for new music release among consumers who expressed an opinion. More than two-thirds of those with a preference (68%) chose Friday or Saturday.

 

Charts move into line

The move to New Music Fridays will also lead to many countries making changes to their charts as well. Public music charts in most countries reflect a week’s sales, so changing the release day to Friday means changing the chart week as well. For example, in the UK the BBC will launch its first Friday chart show, having moved it from Sundays, and in France the TV station D17 will be moving its weekly featuring the latest charts from Tuesday to Friday.

 

Statements on Global Release Day

Kim Bayley, chief executive, Entertainment Retailers Association:

“Retailers and digital services are the ultimate link in the chain between artists and music fans. Having a single worldwide release day reduces customer confusion about when new music is available and focuses everyone’s attention on new releases. Retailers are working hard to implement the change to Fridays and ensure that the advent of New Music Friday is a success.”

 

James Donio, president, Music Business Association (Music Biz)
“The Music Business Association (Music Biz) is committed to working with our members and industry partners in the United States to make a smooth and successful transition to New Music Fridays.”


Frances Moore, Chief Executive of IFPI
“The switch to New Music Fridays is about getting new music to fans at the time they most want to enjoy it, whether that be in physical stores or online. It’s also an opportunity to recreate excitement around the release of music – the message is “Think Friday, Think New Music. The global release day also helps artists, labels and retailers by limiting the time between releases in different countries and thus narrowing the gap on piracy. The move made today has been a great example of cross-sector cooperation, involving labels, artists, retailers and others across more than 45 markets.”

 

Paul Pacifico, chief executive, Featured Artists Coalition (FAC)
“The FAC welcomes any initiative that brings artists and fans closer together and the Global Release Day does just that, making sure that all fans, wherever they are in the world, can get legal access to new tracks as soon as they are released. Making Global Release Day Friday brings the additional excitement of launching major new releases in the run-up to the weekend.”

 

John Smith, president, International Federation of Musicians (FIM)
“FIM fully supports the move to New Music Fridays.  Our industry, our membership and our audiences are increasingly global, and a move to a global release Friday offers an exciting opportunity to release music at a time when people most want to listen to and buy it.”

[1] January 2015 – TNS survey of 7251 consumers across seven markets: Brazil, France, Italy, Malaysia, Spain, Sweden and USA. 4201 consumers expressed an opinion/ preference for a release day.

 

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‘Music Cities’ Report Sets Out Roadmap To Economic Growth

Cannes, France, June 5, 2015: Recording industry groups IFPI and Music Canada have today released a new report that sets out how cities worldwide can take simple steps to help develop their music economies.

The Mastering of a Music City was launched at Midem, the world’s largest music industry conference.

The report provides a simple checklist to help local authorities, businesses, community groups and the creative sector capitalise on the potential of music to build, grow and strengthen their cities.

It cites examples from 22 cities from all continents to explain what a music city is, why it is beneficial, and – critically – the most effective strategies and policies that can be implemented to nurture active music hubs.

Graham Henderson, President and CEO, Music Canada, says: “A vibrant music sector delivers an extensive array of social, cultural and economic benefits to its community; from job creation and retention to city identity and music tourism, to social cohesion, music can play an essential role.”  

“Communities of any size, anywhere in the world, can assess the extent to which they have the essential ingredients for a Music City, and deploy the strategies successfully used in the likes of Nashville, Melbourne, Toronto, Berlin and other renowned Music Cities, in order to enhance or grow theirs. These strategies don’t necessarily require heavy investment – addressing red tape and establishing dialogue between leaders in the music community and city officials are inexpensive ways to grow music’s contributions.”

The Mastering of a Music City has identified recommendations in seven strategic areas that are an effective means to grow and strengthen a city’s music economy:

  1. Music and musician-friendly policies, from licensing and liquor laws to parking and planning regulations to affordable housing and artist entrepreneur training.
  1. The creation of Music Offices to help musicians and music businesses navigate the broad range of government policies and regulations that impact music.
  1. The formulation of Music Advisory Boards to engage the broader music community in a collaborative way and to facilitate dialogue with city governments.
  1. Engaging the broader music community to ensure the people most affected by music policies are involved and informed.
  1. Access to spaces and places for artists to practice, record, and perform at every stage of their career.
  1. A focus on audience development, ensuring that there is an engaged and passionate audience for local musicians as well as international touring artists, now and into the future.
  1. Music tourism or the development of a Music City brand to leverage a thriving live music scene, rich music history, or large music festivals in order to reap the significant benefits associated with music.

In addition, multi-level government support for music, a broader city infrastructure conducive to the sector, music education programmes and efforts to highlight music history and identity are important.

Frances Moore, Chief Executive, IFPI, comments: “We’re delighted to be a partner in the Music Cities project, and we will work with our affiliates in 57 countries to spread the good work that Music Canada has been doing elsewhere in the world. They will be taking this report into City Halls worldwide, recognising that each place has different needs and priorities, but urging leaders to seize the common advantages offered by a growing music economy.

“We realise this will benefit the recording industry too, and that is the other reason we are co-sponsoring the report. Our job at IFPI is to improve the environment in which our member companies operate and this is one way that we can do that. Just imagine a world where you can go from country to country and find music cities in every one. That would be good for artists, good for record companies, good for city leaders and good for the wider public that just wants to enjoy great music.”

The Mastering of a Music City was produced after more than 40 interviews with music leaders, city and tourism officials, international focus groups and secondary research. It cites best practices and case studies from 22 cities. IFPI’s affiliated national groups will share the report globally to assist municipal leaders and other stakeholders to develop local music strategies.

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About IFPI:
IFPI is the organisation that promotes the interests of the international recording industry worldwide. Its membership comprises some 1,300 major and independent companies in 62 countries. It also has affiliated industry groups in 57 countries. IFPI’s mission is to promote the value of recorded music, campaign for record producer rights and expand the commercial uses of recorded music in all markets where its members operate.

About Music Canada:
Music Canada is a non-profit trade organization that represents the major record companies in Canada, namely Sony Music Entertainment Canada, Universal Music Canada and Warner Music Canada. Music Canada also works with some of the leading independent record labels and distributors, recording studios, live music venues, concert promoters, managers and artists in the promotion and development of the music cluster.

For more information, contact:

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Digital Music Report 2015 released by IFPI

Today, the IFPI released the Digital Music Report 2015, which provides an extensive overview of the global digital music sector, including international market figures, market trends, and worldwide bestsellers information. The report notes that globally, digital music revenues matched physical format sales for the first time in 2014. Digital revenues rose 6.9% to US $6.9 Billion, representing 46% of all global music sales and underlying the industry’s transition over recent years. Overall global revenues fell slightly (0.4%) in 2014, to US $14.97 Billion.

Digital-Music-Report-2015The IFPI says the Digital Music Report shows an industry in continued transition, with consumers embracing music streaming and subscription models. Subscription revenues rose sharply in 2014, growing by 39%, which offset an 8% decline in digital download sales to grow overall digital revenues to US$6.85 billion. The number of paying users of subscription services increased by 46.4%, to an estimated 41 million people worldwide. Subscription services are now a major part of the industry’s portfolio of businesses, making up 23% of the digital market and generating US$1.6 Billion in trade revenues.

“The recorded music business has always led the way for creative industries in the digital world,” said Frances Moore, chief executive of IFPI. “That leadership continues today as the music industry’s digital revolution continues through new phases, driven by the consumer’s desire for access to, rather than ownership of, music. It is a reflection of how much we have adapted that digital revenues today are, for the first time, on a par with physical. The headline statistics of 2014 speak for themselves, with overall revenues still largely flat, down by 0.4 per cent. Music companies are charting a path to sustainable year-on-year growth. That path was never going to be straight, but we are making great strides along it, embracing new models, licensing, investing and improving consumer choice.”

Key trends highlighted in the report includes the increased consumer engagement with licensed digital services, based on a new research study undertaken by Ipsos across 13 of the world’s leading music markets, including Canada. The Ipsos research found that the rise of streaming is driven in large part by young consumers, and that there is substantial untapped potential for growth in paid subscriptions.

The report also notes that bundling partnerships between telecom and digital music companies are becoming standard in markets across the globe, and are playing a significant role in the growth in emerging markets. The report notes that services are also increasingly tailoring their payment models to reach various segments of the market, citing MTV Trax, which offers users in the UK access to 100 songs for £1 per week, ranging to Deezer Elite, which specializes in high quality audio for $20 per month.

The report also addresses the “value gap” in the digital music market, noting the market distortion caused by the way some digital services circumvent normal music licensing rules. The IFPI illustrates this by comparing the share of revenue rightsholders derive from services like Spotify and Deezer to those derived from platforms like YouTube and Dailymotion. The report estimates that music subscription services have 41 million paying subscribers and more than 100 million “freemium” users globally, which generated US$1.6 Billion in rightsholder revenues in 2014. By comparison, YouTube alone has more than one billion monthly users and is considered one of the most popular access routes to music, and yet generated just US$641 million for rightsholders in the same time period.

“The value gap is a fundamental flaw in our industry’s landscape which sees digital platforms such as Dailymotion and YouTube taking advantage of exemptions from copyright laws that simply should not apply to them,” said the IFPI’s Frances Moore. “Laws that were designed to exempt passive hosting companies from liability in the early days of the internet – so-called ‘safe harbours’ – should never be allowed to exempt active digital music services from having to fairly negotiate licences with rights holders. There should be clarification of the application of ‘safe harbours’ to make it explicit that services that distribute and monetise music should not benefit from them.”

The Digital Music Report also covers plans for Global Release Day, which is the industry’s decision to synchronize the release schedule for all markets, allowing consumers to access new music on the same day worldwide. Beginning July 10, 2015, Friday will become the new release day, reducing the risk of piracy by shortening the release gap between markets, and providing new marketing opportunities for record labels over the weekend.

The report also examines music’s impact in the wider economy, with data illustrating the effect of record companies’ investment in artists. The recording industry invested US$4.3 billion in 2013, which, at more than 15% of industry revenues, is a larger share than other sectors like leisure (6.3%) and automobiles (4.2%). This investment is a catalyst for economic activity, said Max Lousada, chairman and CEO of Warner Music UK. “As an industry we make financial investments in our arts that have a ripple effect on the wider economy, whether that is driving new and innovative businesses or creating work for all the specialists that work to develop and sustain artists’ careers from producers, graphic designers and stylists to lawyers and accountants.”

The report looks at the role of music in driving tourism, citing the experience from Austin, Texas, and research from Toronto and the United Kingdom. Music is also a major driver of activity on social media, as the report notes that seven of the ten most-followed people on Twitter are musicians, and nine of the top ten most-watched YouTube videos are music related.

The report also profiles industry efforts to counter piracy, which continues to be a massive problem for the music industry. Research by Ipsos shows that most consumers recognize digital piracy is harmful and should be addressed by governments and intermediaries. 52% of respondents in Ipsos’ survey agreed that downloading or streaming without the copyright owner’s permission was theft. 53% of respondents agreed that licensed services should appear above pirate sites in search engine results, and 52% agreed that companies should not advertise on pirate sites. The report identifies major brands found to be continuing to advertise on egregious pirate sites, which drives revenue for the pirate site and advertisers, but while those who create the music involved receive nothing.

In the global charts, the soundtrack to the motion picture Frozen was the top-selling album internationally, while Pharrell Williams’ Happy was the top-selling digital single. Taylor Swift received the IFPI’s Global Recording Artist Award in 2014, as the most popular artist across formats ranging from CD sales to YouTube views.

To view the full report, visit http://ifpi.org/digital-music-report.php.

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IFPI’s ‘Investing in Music’ report shows record labels invest US $4.3 Billion in A&R and marketing

Today, the IFPI, in association with WIN, have released Investing in Music, a new report that highlights the investment that record companies make in artists and repertoire (A&R) and marketing.

The report shows that record companies remain the primary investors in artists, investing 27% of their revenues in A&R and marketing, an increase from 26% in 2011. The report estimates that record companies worldwide have invested more than US$20 Billion in A&R and marketing over the past five years.

Investing in Music highlights the multi-billion dollar investment in artists made every year by major and independent record labels.  It is estimated that the investment in A&R and marketing over the last five years has totalled more than US$20 billion”, said Frances Moore, chief executive of IFPI. “That is an impressive measure of the qualities that define the music industry, and which give it its unique value.”

The report also reveals that more than 7,500 artists were signed to major labels’ rosters in 2013, with tens of thousands more signed to independent labels. One in five artists on a labels’ roster is a new signing, which illustrates that fresh talent is the lifeblood of the industry, says the IFPI.

“Most artists who want to make a career from their music still seek a recording deal,” said Alison Wenham, chair of WIN. “They want to be introduced to the best producers, sound engineers and session musicians in the business. They need financial support and professional help to develop marketing and promotional campaigns.”

The report shows that record companies invest a greater proportion of their global revenues into A&R than most other sectors do into research and development (R&D). The music industry’s investment of 16% of revenues in A&R exceeds the R&D investment of industries such as the pharmaceutical and biology (14.4%), software and computing (9.9%), or technology hardware and equipment (7.9%) sectors.

The report includes data from record companies around the world, and features case studies on Ed Sheeran, 5 Seconds of Summer, Lorde, MKTO, Negramaro, Nico & Vinz, Pharrell Williams, and Wei Li-An.

The full report is now available via the IFPI website.

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Digital Music Report 2014 released by the IFPI

DMR14 largeToday, the IFPI released the Digital Music Report 2014, which provides a comprehensive overview of today’s global digital music sector, including statistics on international markets, developments in the licensed online marketplace, and industry efforts to tackle online piracy.

The IFPI says that despite positive growth in most markets, overall global music trade revenues fell by 3.9% in 2013, to US$15.0 billion. This was heavily influenced by a drop of 16.7% in Japan, which accounts for more than one fifth of global revenues. Excluding Japan, the overall global recorded music market was generally flat, declining by 0.1% in 2013.

This report highlights the growth in music subscription services, which helped drive growth in most major markets in 2013, as revenues from subscription services grew by 51%, helping global digital revenues grow by 4.3%. Global revenues from streaming and subscription services topped the US$1 billion mark for the first time in 2013.

Digital downloads and physical formats remain an important revenue stream for the global recorded music industry, as downloads account for 67% of digital revenues, and physical product sales account for more than half (51.4%) of all global revenues.

Performance rights revenue, generated from broadcast, internet radio, and venues, saw strong growth in 2013, as performance rights income to record companies reached US$1.1 billion, an increase of 19% over 2012. Income from synchronization deals, where music is placed in film, television, or advertisements, declined by 3.4% in 2013, now accounting for 2.1% of total industry revenue, the report states.

The report includes the IFPI’s Global Recording Artist Chart, which measures the popularity of an artist across an array of channels, including digital downloads, streaming services, and physical format sales. One Direction topped the chart in its first year of being tabulated, while Burnaby, British Columbia’s Michael Bublé achieved the #9 position.

The report also profiles how record labels utilize the digital world in promoting artist releases, with features on innovative promotional campaigns, including:

  • Sony Music Entertainment’s global campaign for Daft Punk – Random Access Memories , which coordinated physical advertisements like billboards with television ad buys and digital teaser videos to achieve the robot duo’s vision of a global album release
  • Universal Music Group International’s campaign with Avicii, which partnered with Ericsson to create a ‘crowd sourced’ hit song, and later unveiled the album as a live performance at the Ultra Music Festival, helping Avicii grow from a club DJ to a global superstar
  • Warner Music Nashville/Atlantic Records’ innovative ‘Youtube Orchestra’ campaign with Hunter Hayes, which enlisted a range of ‘Youtube Stars’ to post their own versions of his song, Everybody’s Got Somebody But Me, with Hayes and Justin Mraz creating a mashup of the videos in a one-shot music video
  • Passenger’s partnership with German indie label Embassy of Music, which worked with Sony Music Netherlands to campaign in the smaller Dutch radio market to establish a foothold on the airwaves
  • Katy Perry’s PRISM campaign, in which Capitol Music Group developed multiple promotional campaigns for the album’s various singles, including international events in Canada, Australia, France, Germany, Italy, and Japan

To view the full report, visit http://www.ifpi.org/digital-music-report.php.

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