October 03, 2005
Sales of digital music tripled in the first half of 2005, spurred by Apple's iTunes Music Store, the iPod popularity, and mobile "ringtunes"--even as global music sales fell 1.9 percent. According to Reuters, digital music now makes up six percent of total sales, or $790 million, and sales of CDs and music in other physical formats continued a long decline that the music industry blames on piracy, falling to $13.2 billion from $13.4 billion one year earlier. The IFPI reportedly said that lower CD prices, flagging DVD music video sales and competition from other entertainment sectors also contributed to the decline. In the United States, which is the world's biggest music market, physical music sales fell 5.3 percent by value.
Oh yeah! WACK!!!! Take that you big ol' bully record companies! HA!