China hopes to duplicate world's music profits
Updated: 2013-03-12 09:47
By Mu Qian (China Daily)
|
|||||||||||
Although considered the most popular Chinese pop duo, Phoenix Legend still has limited international influence. Guo Guoquan / For China Daily |
For the first time in 14 years, the global recorded music industry grew in 2012. The International Federation of the Phonographic Industry's annual Digital Music Report announces a rise in revenues by an estimated 0.3 per cent in 2012, to $16.5 billion.
While the worldwide industry celebrates the first year of growth since 1998, Chinese counterparts are wondering when China's recorded music industry will step out of the doldrums.
In China, musician hits all the right notes |
Fan plans simple for this band |
According to the 2012 Report on Chinese Pop Music Market released by the China Record Working Committee, "the physical market has practically disappeared, while the new digital music market has not given record companies their due shares The traditional recording industry is in great depression."
The report says that the revenue of physical format sales in China has declined 95 percent, from 1.22 billion yuan ($196 million) in 2003 to 60 million yuan in 2010, the latest available statistics.
"The problem with the Chinese recording industry is that the cost of piracy is too low while that of protecting copyright is too high," says Zang Yanbin, president of China Record Working Committee. "That's why capital is reluctant to enter the industry and no good works are coming out."
The Chinese digital music market amounted to 1.26 billion yuan in 2011, with 280 billion units downloaded and streamed. The China Record Working Committee contends that music copyright owners should get royalty of 632 million yuan, but the actual income was only 99 million yuan due to piracy, lack of a fair system of profit distribution, and inefficiency of the collecting agencies.
Related Stories
Chinese folk diva serenades the Big Apple 2013-03-11 15:06
In China, musician hits all the right notes 2013-03-11 13:25
Fan plans simple for this band 2013-03-11 10:42
Brightman aims for the universe 2013-03-08 10:33
Bruno Mars tops Billboard 200 chart 2013-03-07 10:13
Wonder women sound out 2013-03-04 13:25
Today's Top News
Police continue manhunt for 2nd bombing suspect
H7N9 flu transmission studied
8% growth predicted for Q2
Nuke reactor gets foreign contract
First couple on Time's list of most influential
'Green' awareness levels drop in Beijing
Palace Museum spruces up
Trading channels 'need to broaden'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |
Firms crave cyber connection |