Global music sales fell 7.6 percent in 2003 to $32 billion, the steepest decline since the advent of the compact disc, the trade body representing the world’s largest music companies said on Wednesday.
The International Federation of the Phonographic Industry (IFPI) blamed the slump in retail music sales — now in its fourth consecutive year — on rampant piracy, poor economic conditions and competition from video games and DVDs.
However, a strong second-half recovery in the United States, Britain and Australia, boosted by top-selling acts such as Justin Timberlake (news), Beyonce and rapper 50 Cent, has raised hopes that the worst is behind the beleaguered industry.
Read entire story hereRelated Posts
- IFPI Accidently Debunks Music Sales Claims for Canada?
- UK Music sales UP
- Downloads ‘fuel music recovery’
- IFPI: Digital Music Sales Up 40%, Total Music Sales Down 10%
- Music industry: Piracy is choking sales
Zeropaid on Facebook
Loading ...
