A look at global music sales

Rather than traveling to a store to buy a music CD, buying online is fast and convenient. There's nothing worse than buying a CD after you've heard a good song, only to find it's the only good song in the album. By downloading from the Internet, you can choose to purchase individual songs if so desired and buy music downloads at any time of day or night.
Posted : Fri, 13 Oct 2006 12:52:00 GMT
Author : Anne Roberts
Category : Business
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Rather than traveling to a store to buy a music CD, buying online is fast and convenient. There's nothing worse than buying a CD after you've heard a good song, only to find it's the only good song in the album. By downloading from the Internet, you can choose to purchase individual songs if so desired and buy music downloads at any time of day or night.

There are many modes through which digital music can be downloaded. Most Windows-based computers are able to play digital music files and this is a better alternative to the purchasing and storing of other physical media. This has resulted in a sharp decline in the sale of media such as CDs.

Online and mobile digital sales on the other hand, have been increasing in a sustained manner since the last few years. According to sources, digital music comprises a noteworthy share of the total market in South Korea at 51 percent, Japan at 11 percent, Italy at 9 percent and Britain at 8 percent.

There are hopes that the increase in downloads, mobile ring tones and subscription revenues will make up for the loss in revenue from the sale of music in physical formats to some extent. Sellers of physical media are now trying to woo the buyer with additional offers and competitive pricing. They are searching for new channels to market their products. Some companies enroll with video sharing sites and try to supply videos through them. They then get some revenue and also a portion of advertising profits.

In spite of the popularity of digital music, the total volume of sales has not really increased because of piracy and other attractive alternatives to spending money. There is not too much hope that there will be a change of scene in the near future.

The International Federation of the Phonographic Industry, or IFPI, has filed many lawsuits against bodies sharing music illegally. Many battles have been fought, some have been won, but there's still a long way to go. It is difficult to pin the responsibility on Internet Service Providers, or ISPs, because they claim ignorance of anything illegal occurring on their networks.

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