Digital Music Growth Slows As Global Sales Drop

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Digital Music Growth Slows As Global Sales Drop

By: Bruce Houghton
2008-01-24

10%. Global music sales dropped 10% in 2007 according to the International Federation of the Phonographic Industry. Digital music sales...

...growth slowed to 40% during '07 after doubling in 2006.

Worldwide digital sales, which include iTunes and mobile downloads now account for 15% of the world's music market, up from 10% in 2006, but hopes digital music sales would offset declines in physical music proved optimistic. Nielsen Soundscan has pegged the global music decline at 14% in 2007.

Global digital sales grew to $2.9B up from $2.1B in '06, according to the IFPI. Single track downloads grew by 53% to 1.7 billion including those on full digital albums.

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About the Author:
Bruce Houghton is a 25 year music industry veteran who owns booking agency Skyline Music and the tour marketing company Skyline Innovations.

http://www.hypebot.com


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