10/3/2005

Sales of Digital Music Triple

Filed under: — By Aviran Mordo @ 5:00 pm

The digital music market has more than tripled in a year, and that has helped offset a continuing decline in sales of CDs and other physical formats.

Spurred by the iPod revolution, digital music sales totaled $790 million in the first half of this year, equivalent to 6 percent of industry sales, the International Federation of the Phonographic Industry estimated in a report Monday.

That compared to $220 million in the same period last year.

Recorded music sales fell 1.9 percent to a retail value of $13.2 billion in the first half of this year, compared with $13.4 billion in the same period last year.

The digital boom, which now exceeds the value of the global singles market, was largely driven by sales in the top five markets - the United States, Britain, Japan, Germany and France, IFPI said in Monday’s report. Sales of physical formats fell 6.3 percent by value in the period to $12.4 billion, it said.

Source: AP

 

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