London – Global sales of recorded music fell 8.4% in 2010,
to $15.9 billion, according to a report from international record label trade
group IFPI. While sales of music on physical media dropped 14.2% last year, to
$10.4 billion, digital music sales climbed 5.3%, to $4.6 billion. Digital sales
now account for 29% of global recorded music revenues.
Digital sales in the
U.S. were flat in 2010, rising just 1.2%, while Europe saw 21.6% digital sales
growth.
"The demand for new music seems as insatiable and diverse as ever,
and record companies continue to meet it," said IFPI chief executive Frances
Moore.
"But they are operating at only a fraction of their potential
because of a difficult environment dominated by piracy."
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(Guardian)
