The International Federation of the Phonographic Industry (IFPI) has confirmed news that 00:01 local time on Fridays will be the official release day for new music (singles and albums) around the world.
The move will take place this summer with international retailers onboard with record companies, artists, and music unions.
Benefits noted include reducing piracy and fan frustration due to the existing gaps that occur when projects are released in different countries on different days. Artists benefit from the uniform release date when promoting announcements on social media, which are broadcast globally. It also aims to re-ignite excitement and a sense of occasion around the release of new music.
Consumer research by TNS across seven markets showed Friday and Saturday as 68 percent more preferred for new music release among consumers who expressed an opinion.
Leading organizations include Music Business Association (Music Biz US), Mondadori Retail, the Orchard, Rdio, Spotify, Napster, Australian Music Retailers Association (AMRA), E.Leclerc, El Corte Inglés, Entertainment Retailers Association (ERA) (UK), HMV, Italian Association of Specialist Consumer Electronics Retailers (AIRES), Media-Saturn.
Industry reaction here.
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