News - 14/11/2012

Labels claim they are investing 4,5 billions in new music

Labels claim they are investing 4,5 billions in new music

Recording Industry invests  US$4.5 billion annually in artists and repertoire (A&R) and marketing, according to a new report.The annual reporty "Investing in music" curated bu International Federation of the Phonographic Industry (IFPI) claims the the recording industry has raised investements in research and development of new music of 16%. Local investmens, say the report, are producing a growth of local repertories in Italy  (up to 74 %), Japan (77 %) US (62 %), Germany (55 %), France (54 %) and U.K. (53 %). 


"Investing in Music highlights a simple truth - that behind the highly visible world of artists who touch people's lives there is a less visible industry of enormous diversity, creativity and economic value. This report shows the role record companies, major and independent, play around the world in discovering, nurturing and promoting artistic talent." says IFPI executive Frances Moore.

 

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