"Music Industry Blames Huge Illegal Download Market For Ever Falling Sales".

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"Music Industry Blames Huge Illegal Download Market For Ever Falling Sales".

Post by 1916 on Fri Jan 22, 2010 12:48 pm

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/7048795/Music-industry-blames-huge-illegal-download-market-for-ever-falling-sales.html

The International Federation of the Phonographic Industry (IFPI) said that global music industry sales – both physical and digital – fell by an estimated 10pc last year.

Sales fell for the 10th year in a row as online growth slowed from 25pc in 2008 to 12pc, while physical music sales, such as CDs, fell 16pc.

The launch of new legal download services such as Spotify and Apple's iTunes and the introduction of legislation to protect copyright in a number of countries have so far failed to alleviate the problem, said the IFPI.

"It would be great to report these innovations have been rewarded by market growth, more investment in artists, more jobs. Sadly, that is not the case," John Kennedy, IFPI executive chairman, told Reuters.

"The problems that we're facing with piracy have certainly not gone away. We have always hoped the day will come that the increase in our digital business will make up for the fall in our physical business and that's certainly not happening yet."

Overall recorded music sales were estimated to be down around 10 per cent compared with a fall of around 7 per cent in 2008 and an 8 per cent fall in 2007.

Sales have fallen by 30pc in the past five years despite a 940pc growth in digital.

The physical music market accounted for $11.6bn (£7.1bn) last year, while digital sales reached $4.2bn for the first time.
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Re: "Music Industry Blames Huge Illegal Download Market For Ever Falling Sales".

Post by Jordan123 on Fri Jan 22, 2010 4:01 pm

They created this mess themselves.
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Re: "Music Industry Blames Huge Illegal Download Market For Ever Falling Sales".

Post by Globe Hopper on Fri Apr 30, 2010 10:42 pm

Half of this is probably my fault.
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Re: "Music Industry Blames Huge Illegal Download Market For Ever Falling Sales".

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