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According to the International Federation of the Phonographic Industry (IFPI), record sales all around the world have been have a bad run.
Worldwide music sales fell for the fourth year in a row in 2003, dropping 7.6% year-over-year to $32 billion, adding up to global losses of 20% in the past three years, the International Federation of the Phonographic Industry said Wednesday.
All the major markets except Australia and the United Kingdom suffered, though there was an improved second half in the United States, thanks to releases by such artists as OutKast, Alicia Keys and Ludacris, the IFPI said. Sales of CDs, which represents 86% of the market, fell 9.1%, and sales of singles plunged 18.7%.
When I read something like this, what comes to mind is me asking to see the drop in sales in comparison to the overal economic situation of the country in question. If music sales were to drop, say 20% in Finland for 2004, that would seem like a bad thing. But, if in the same year, Finland's GDP dropped by 40%, then it would seem to me that the music industry did gangbusters, by outperforming the overall economy by 125%.
Posted by Casper at April 8, 2004 02:12 AM