IFPI stands for the International Federation of the Phonographic Industry. It is a global trade organization that represents the interests of the recording industry worldwide. The organization's main objective is to promote the value and importance of recorded music and to safeguard the rights of its member companies.
IFPI functions as a platform for collaboration and cooperation among its members, which include major and independent record labels from around the world. It provides a forum for them to address common issues and challenges faced by the industry, such as copyright protection, piracy, and digital distribution.
One of the key roles of IFPI is to advocate for policies and laws that protect and enhance the rights of record companies and recording artists. This includes lobbying governments, engaging in legal proceedings, and supporting industry-wide initiatives to combat copyright infringement and promote fair compensation for music creators.
IFPI also plays a crucial role in compiling and publishing music industry data and statistics. It produces an annual report called the Global Music Report, which provides comprehensive insights into the global music market, including trends, revenues, and consumer behavior.
Overall, IFPI serves as a united front for the global recording industry, working towards a sustainable and thriving music ecosystem that benefits both the creators and consumers of recorded music.
