Global music sales continue to decline, declared industry trade body, the International Federation of the Phonographic Industry (IFPI), yesterday.
It says sales of recorded music in both audio and video formats fell 7.6 per cent in units in comparison with 2002. It's now worth $32 billion on 2.7 billion unit sales.
The global market shares for 2003 are: BMG,11.9 per cent, EMI, 13.4 per cent, Sony, 13.2 per cent, Universal, 23.5 per cent, Warner, 12.7 per cent and independents, 25.3 per cent.
The IFPI reports music sales to have declined 16.3 per cent since 1999, attributing this to CD burning and illegal downloading, competing entertainment formats and economic uncertainty. It said all three issues "began to show early signs of a turnaround in early 2004."