Online Music Sales Fail To Balance Drop In CD Sales - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Business & Finance

Online Music Sales Fail To Balance Drop In CD Sales

Consumers still go for shrink-wrapped discs, but downloads are on the rise.

Music bought online or through mobile phones reached $2 billion last year, but despite the almost twofold increase over 2005, digital sales failed to make up for the decline in CD sales, an industry trade group said Wednesday.

As of the end of last year, digital sales accounted for about 10% of the worldwide music market. To help drive sales, record companies doubled the number of songs available online to 4 million, the International Federation of the Phonographic Industry said in its Digital Music Report. The number of single tracks downloaded soared by 89% to 795 million.

Despite the success, the market failed to achieve the "holy grail" of compensating record companies for the decline in CD sales, the IFPI said. In addition, piracy remained a serious threat to the emerging digital music business and was one of the major reasons the surging digital market did not make up the shortfall in the physical market.

"As an industry we are enforcing our rights decisively in the fight against piracy and this will continue," IFPI chairman and chief executive John Kennedy said in a statement. While legal actions against major file-sharing networks have helped contain piracy, the IFPI plans to step up its campaign to force Internet service providers to help find pirates.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
Slideshows
10 Ways to Transition Traditional IT Talent to Cloud Talent
Lisa Morgan, Freelance Writer,  11/23/2020
News
What Comes Next for the COVID-19 Computing Consortium
Joao-Pierre S. Ruth, Senior Writer,  11/24/2020
News
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Register for InformationWeek Newsletters
Video
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll