Not a love affair - Music industry and the Internet
The Midemnet Forum in Cannes takes place at the moment. What is the main result?
Things have still not sparked between the music industry and the Internet.
All told, the digital market accounts for just six percent of revenues. That's peanuts – especially as in the course of discussions it became clear that the branch still has no common idea of what it's really after.
And fascination has dwindled in the non-Western growth markets, which until recently were being much eulogised: 96 percent of Chinese listen to Chinese music, 90 percent of Indians prefer Indian culture, while in Brazil 80 percent of the population swears by local productions. There's little room left for pop imports.
Despite the promise of the Internet, the global market seems more than ever to be an illusion.
Things have still not sparked between the music industry and the Internet.
All told, the digital market accounts for just six percent of revenues. That's peanuts – especially as in the course of discussions it became clear that the branch still has no common idea of what it's really after.
And fascination has dwindled in the non-Western growth markets, which until recently were being much eulogised: 96 percent of Chinese listen to Chinese music, 90 percent of Indians prefer Indian culture, while in Brazil 80 percent of the population swears by local productions. There's little room left for pop imports.
Despite the promise of the Internet, the global market seems more than ever to be an illusion.
posted by Konrad at 6:17 PM
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