Online piracy: 95% music downloads illegal; legal industry grows 25% in 2008

The music industry is still losing out to internet pirates on a huge scale, with an estimated 95% of music available online being downloaded illegally.Despite record-breaking growth in digital sales of music from sites such as iTunes, the majority of music downloaded in 2008 was done so without payment to either the artist or record label, according to a report by the International Federation of the Phonographic Industry (IFPI). music industry grows by 25% in 2008
The digital music industry grew by 25 per cent worldwide last year, with sales of $3.7 billion, despite the fact that 95 per cent of all downloads were illegal, according to a report by IFPI, the international record industry body.The figures came on the day that the Department for Business, Enterprise and Regulatory Reform (BERR) published the responses to its consultation on combating illegal peer-to-peer filesharing, confirming that there was a “marked polarisation” within the industry on how to deal with online piracy. downloads swamped by piracy
Ninety-five per cent of music downloaded online is illegal, a report by the International Federation of the Phonographic Industry (IFPI) has said.The global music trade body said this is its biggest challenge as artists and record companies miss out on payments.There has, however, been a 25% rise since last year with downloads now accounting for a fifth of all recorded music sales.The IFPI said worldwide music market revenues shrank by 7% last year. sales worldwide fall by 7 percent
Music sales worldwide fell by about 7 percent last year as another sizable jump in digital sales failed to make up for a deepening decline in the compact disc market, according to John Kennedy, chief executive of the industry’s main international trade group.Revenue from music sold over the Internet, via mobile phones and in other digital forms, rose by 25 percent last year, to $3.7 billion, the International Federation of the Phonographic Industry said in a report set for publication Friday. Digital sales accounted for 20 percent of the industry’s revenue, up from 15 percent a year earlier. digital music sales up 25 percent
Legitimate digital music sales grew strongly in 2008 but were still dwarfed by the scale of illegal downloads, despite industry efforts to adapt to the Internet and offer more choice to customers.A report by the trade body IFPI showed legal digital global sales grew by an estimated 25 percent to $3.7 billion in trade value, to account for about 20 percent of the industry’s global recorded music sales, up from 15 percent in 2007.

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