Record companies invested $4.5 billion (approx £2.8bn) in A&R and marketing during 2011, despite the global economic downturn. 

The figure, which represented 26% of all industry revenues, comes in a new IFPI report on the changing economic of the music business.

The investigation concludes that revenue invested solely into A&R in 2011 stood at $2.7 billion, only marginally down on 2008 (US$2.8 billion), despite an overall decline of 16% in the trade value of the industry globally over the same ...