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Fresh data released yesterday by the IFPI, the international music trade body, shows that digital music accounted for a record 6 per cent of worldwide music sales in the six months to June 30, rising from $220 million in the first half of last year to $790 million this year.
The booming market helped to cushion the impact of a 1.9 per cent decline in global music sales to $13.2 billion caused by piracy, falling CD prices, slowing DVD music video sales and competition from rival entertainment sectors.
“There is reason to be optmistic,” John Kennedy, IFPI’s chairman, said. He said that he expected an improvement in sales during the second half of the year.
In America, the world’s biggest music market, physical sales fell 5.3 per cent by value and 5.7 per cent by unit volume. In Britain physical sales fell by 4 per cent in value and 1.7 per cent by unit volume.
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