IFPI Music Report 2014: Global Recorded Music Revenues Fall 4%, Streaming and Subs Hit $1 Billion | Billboard

IFPI Music Report 2014: Global Recorded Music Revenues Fall 4%, Streaming and Subs Hit $1 Billion | Billboard: A major contributing factor in the drop was a massive 16.7% decline in music sales in Japan -- the world’s second-biggest music market, accounting for more than a fifth of total global revenues. IFPI attributes Japan’s sharp decline in music sales -- which totaled $3.01 billion in 2013, down from $3.61 billion -- to falling demand for physical format and “legacy mobile products” such as downloads and ringtones, while streaming and subscription services are yet to establish themselves.