IFPI: Digital Music Sales Dwarfed By Piracy
January 16, 2009 at 2:01 PM (PT)
The INTERNATIONAL FEDERATION OF THE PHONOGRAPHIC INDUSTRY (IFPI) has released a report that 95% of music downloaded online is illegal. The new comes at the same time as a 25% rise if digital sales to the point where downloads now account for a fifth of all recorded music sales, the BBC reports.
Noting that worldwide music market revenues shrank by 7% last year, the IFPI estimated that more than 40 billion music files were illegally shared in 2008. BBC technology correspondent RORY CELLAN-JONES concluded that despite the launch of many legal download services, customers still seem to prefer digital privacy.
There were 1.4 billion single tracks legally downloaded in 2008, with the top-selling digital single, LIL WAYNE's "Lollipop," selling 9.1 million copies.