Industry body says global revenue from digital music matches physical sales for first time

Industries Associated Press

A music industry body says global revenue from digital music matched that from physical albums and discs for the first time in 2014.

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The International Federation of the Phonographic Industry's annual digital music report says digital and physical sales each accounted for 46 percent of the $14.97 billion in global music revenues. Income from performance rights and synchronization revenue made up the rest.

The total was down 0.4 percent from 2013.

The federation said Tuesday that the rise of subscription music services was driving digital growth. But it said that the industry was missing out on revenue because some platforms including YouTube are exempt from copyright laws applied to music-streaming services like Spotify.

The report also named the year's top-selling album — the "Frozen" soundtrack, which sold 10 million copies.