Global music sales decline but digital tunes gain
A Reuters newswire article by Adam Pasick, via Yahoo! News, reports that:
Global music sales fell 1.9 percent in the first half of 2005, but the industry cheered a tripling of digital music sales, spurred by mobile phone "ringtunes" and Apple's iTunes Music Store.
Digital music now makes up 6 percent of total sales, totaling $790 million, according to first-half figures released on Monday by the International Federation of the Phonographic Industry (IFPI) trade group.
Sales of CDs and music in other physical formats continued a long decline, which the music industry has blamed mainly on piracy, falling to $13.2 billion from $13.4 billion a year earlier.
The IFPI said that lower CD prices, flagging DVD music video sales and competition from other entertainment sectors also contributed to the decline.
posted by Fergie @ 10/03/2005 06:53:00 AM
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