Music Sales Fall 10 Percent Worldwide in 2007

Reuters reports that sales of music fell at a faster rate in 2007 than 2006 despite digital sales soaring, and the gatekeepers of the Web must act if the industry is to beat piracy, the international trade body said on Thursday.

That bright spot for digital sales is pretty significant, however: “Global digital sales grew by around 40 percent in 2007, the IFPI group said. But his was not enough to offset the sharp fall in CD sales, meaning the overall market is expected to be down around 10 percent for 2007.”

The organization commended France’s recent move to thwart illegal file sharing by blocking users’ Web access. “It is hard to persuade anyone to be a pioneer but what we have with the French government is a very energetic government understanding how important the French music industry is to French business and culture,” IFPI Chief Executive John Kennedy told Reuters.

Global Music Sales Fell 10 Percent in 2007 [Reuters via PC Magazine]

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