The good news, according to a new recording industry report, is that record labels around the world registered $2 billion in digital sales last year — either through music online or mobile phones — nearly doubling the market in the previous year. The bad news is that these sales have not totally compensated the industry for its lost audio CD revenues, which started to decline around five years ago. The report was released in London by the International Federation of the Phonographic Industry, an umbrella organization for national groups and affiliated industry associations.
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Recording Industry Reaches $2B in Digital Music Sales
Posted by: Erika Morphy January 17, 2007 01:52 PMThe good news, according to a new recording industry report, is that record labels around the world registered $2 billion in digital sales last year — either through music online or mobile phones — nearly doubling the market in the previous year. The bad news is that these sales have not totally compensated the industry for its lost audio CD revenues, which started to decline around five years ago. The report was released in London by the International Federation of the Phonographic Industry, an umbrella organization for national groups and affiliated industry associations.