“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,” The Associated Press reports. “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… 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,” AP reports. “Apple Computer Inc.’s iTunes online music store accounts for 82 percent of legal downloads in the United States. The company has sold more than 500 million songs online and about 22 million iPod digital music players.”
Full article here.
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