tyfach used our news submit to tell us that according to the International Federation of the Phonographic Industry (IFPI), music sales dropped by 7% around the world last year after a 5% dip in 2001.
Reasons for the sales drop were economic uncertainty and competition from DVDs and video games but, of course, the internet pirates and massive CD copying have also been blamed. Besides that the IFPI has also said that piracy puts the jobs of 600.000 people in the industry at risk.
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The United States suffered a 10% drop in album sales in 2002, mainly because fans were getting the music from the internet instead, the IFPI said. "This year's figures hold no surprises," IFPI chairman Jay Berman said. "Widespread use of illegal sites, made easier with the growth of broadband access in the major markets, is affecting an industry that is also having to compete with increased sales of other entertainment formats such as DVD films and new video game consoles." Worldwide music sales amounted to $ 32bn (£20.5bn), according to the figures. |
Luckily there were also some exciting new opportunities for the music industry such as the growth of new formats such as DVD Audio and Super Audio CDs. Read the complete article here.
Source: BBC News
