Music industry profits remain unstable20 Aug 2010 • by Natalie Aster
According to an annual report issued by Barnes Reports and entitled The 2007 Worldwide Musical Groups &Artists Industry, forming a music band could be hardly viewed as a lucrative investment, while the revenues generated by the music industry remain highly unstable.
Brazil, France, Germany and Japan will continue to have tough time in this business as receipts are declining, though, over the medium-term, revenue prospects look positive.
Despite negative trends, profits made by Japanese music bands rank the second in the world. Profit breakdown is as follows (incl. forecast): $2.7bn in 2006 (down 1%), $2.33bn in 2007 (up 3%), $2.37bn in 2008.
Germany’s music industry, the world’s third-biggest, follows the suit by undergoing a slight slump, but still makes large profits. Profit breakdown is as follows (incl. forecast): about $1bn in 2006 (down 1%), $1.1bn in 2007, $1.109bn in 2008.
The United States steadily holds leading position in this business with annual profitability growth of more than 4%. Profit breakdown (incl. forecast): $3.64bn in 2006 (down 1%), $3.8bn in 2007, $3.98bn in 2008.
The report elucidates activities of live performance groups (excl. theatre and opera companies).
The annual report The 2007 Worldwide Musical Groups &Artists Industry analyses the state of music industry in 45 countries. This report also provides the most current and accurate information on sales, employment, number of establishments in the sector; it gives sector’s development forecasts and its 5-year trend analysis.
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