Record companies' total investment in A&R and marketing is more than $4.3bn (£2.7bn) annually and more than US$20 billion over five years, a new report has revealed.
The IFPI’s Investing in Music study showed that investment in A&R and marketing has risen from 26 to 27 percent of industry revenues over the last two years.
Record companies invest a greater proportion of their global revenues in A&R than most other sectors do in research and development (R&D).
Alison Wenham, chair of WIN, said: ‘Most artists who want to make a career from their music still seek a recording deal. They want to be introduced to the best producers, sound engineers and session musicians in the business. They need financial support and professional help to develop marketing and promotional campaigns.’
Further findings conducted with the UK’s Unsigned Guide found 70 percent of unsigned acts want a recording contract.
Marketing and promotional support, tour support and additional financial backing are the main drivers for artists wanting to secure a deal.
More than 7,500 artists were signed to major labels' rosters in 2013, with tens of thousands more on independent labels.
Visit the IFPI’s website to read more from the report.
The IFPI’s Investing in Music study showed that investment in A&R and marketing has risen from 26 to 27 percent of industry revenues over the last two years.
Record companies invest a greater proportion of their global revenues in A&R than most other sectors do in research and development (R&D).
Alison Wenham, chair of WIN, said: ‘Most artists who want to make a career from their music still seek a recording deal. They want to be introduced to the best producers, sound engineers and session musicians in the business. They need financial support and professional help to develop marketing and promotional campaigns.’
Further findings conducted with the UK’s Unsigned Guide found 70 percent of unsigned acts want a recording contract.
Marketing and promotional support, tour support and additional financial backing are the main drivers for artists wanting to secure a deal.
More than 7,500 artists were signed to major labels' rosters in 2013, with tens of thousands more on independent labels.
Visit the IFPI’s website to read more from the report.
