IFPI announces Friday as Global release day
The IFPI have announced today that Friday’s are set to be the new Global release day. Following consultation with artists, musicians unions, record companies and retailers the change will come into effect from Summer 2015 with new albums and singles being released at 00:01 local time on Fridays. Music consumers everywhere will know to look for new releases on Fridays regardless of where they are.
Francis Moore, the CEO of IFPI says of the move “Why is global release day such a smart idea for today’s music business? First, because it is what our consumers want. Music fans live in the digital world of today. Their love for new music doesn’t recognise national borders. They want music when it’s available on the internet – not when it’s ready to be released in their country. An aligned global release day puts an end to the frustration of not being able to access releases in their country when the music is available in another country. This is particularly prevalent in a world united by social media, where fans can instantly see friends or family in other countries enjoying the music they want.
Second, global release day is about celebrating new music. By creating a single day for new releases across the world, it’s an opportunity to re-awaken the excitement and anticipation of new music everywhere. Many artists feel the sense of an event in releasing music has been diminished. That is why the artists involved in the discussion around the project have been so fired up by the concept.”
Paul McGowan, chief executive of Hilco Capital, the group which owns HMV says “A global release day is a totally logical move in today’s global music market and Friday is overwhelmingly the right choice for the day. Quite simply, new music should hit the high street when people hit the street. New Music Fridays will get new releases to fans when they most want to buy them. As the UK’s biggest music retailer, that makes perfect sense to us.”