An education in global politics and the global economics might be in order if American children are going to grow to thrive in the coming decades. Even the music industry, to which many of our young people aspire, can be impacted severely by factors and markets beyond the borders of the U.S. Also, note how the digital revolution is changing the economics of a number of industries including music—and the publishing industry.
Japan drags down global music market
Japan’s music industry has traditionally been staunchly local
A sharp decline in music consumption in Japan caused overall global growth to slow down in 2013, according to figures from the International Federation of the Phonographic Industry (IFPI).
The 16.7% slump in Japanese sales caused world figures to slide by 3.9%.
But European music consumers had a buoyant year, registering their first growth for 13 years, while digital sales in the US rose by 3.4%.
Japan largely relies on physical sales of music, which did not perform well.
The country – which is the world’s second largest music market – is seen as unique among developed nations for its reliance on CDs and the lack of user-friendly music download services on smartphones.