I just finished reading the Digital Music Report 2009 authored by the International Federation of the Phonographic Industry (IFPI). The IFPI is the organization that represents the interests of the recording industry worldwide and has 1400 members including the Recording Industry Association of America.
The report goes into great detail describing the shifting business model from a sales and distribution based model to one that monetizes access to music. According to Nielsen SoundScan single track downloads in the U.S. crossed the one billion mark in 2008. That represents a 27 % increase in one year.
Considering the recent defeat of former Eminem producers F.B.T. Productions, this new business model could be the savior of the record labels. But is it unfair to the musicians? Let me know what you think by answering my latest poll.