Piracy Blamed by Industry for Low Music Sales
- Posted on Jan 22nd 2010 6:24AM by Farah Ishaq
- Comments
Record labels have blamed increasing music piracy as well as new legal streaming services like Spotify for the decreasing rate of sales of digital music.
The International Federation of Phonographic Industries (IFPI), which represents the recording industry worldwide, announced last year's digital revenues amounted to $4.2bn (£2.6bn), just 12% of the previous year's 25% rate of growth -- with a 10% drop in music sales overall.
The Guardian reports the IFPI estimate that 95% of music downloads worldwide are illegal, with head of the organisation John Kennedy commenting, "It would be great to report these innovations have been rewarded by market growth, more investment in artists, more jobs. Sadly that is not the case. Digital piracy remains a huge barrier to market growth."
According to the IFPI's figures revealed today, all music sales worldwide have fallen around 30% in the last five years.
Kennedy reasoned that consumers explain illegally downloading songs saying, "because it's free and because we can. It's not more complex than that, not a better offering, not a better service. It's because it free and because we can."
The International Federation of Phonographic Industries (IFPI), which represents the recording industry worldwide, announced last year's digital revenues amounted to $4.2bn (£2.6bn), just 12% of the previous year's 25% rate of growth -- with a 10% drop in music sales overall.
The Guardian reports the IFPI estimate that 95% of music downloads worldwide are illegal, with head of the organisation John Kennedy commenting, "It would be great to report these innovations have been rewarded by market growth, more investment in artists, more jobs. Sadly that is not the case. Digital piracy remains a huge barrier to market growth."
According to the IFPI's figures revealed today, all music sales worldwide have fallen around 30% in the last five years.
Kennedy reasoned that consumers explain illegally downloading songs saying, "because it's free and because we can. It's not more complex than that, not a better offering, not a better service. It's because it free and because we can."
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