Music Sales Slow By 8 Per Cent Worldwide

New figures from the IFPI reveal...

Figures released by the IFPI, the body that represents the music industry worldwide, show that global music sales shrank by 8% in 2008.

The biggest slowdown came in sales of the CD format, which decreased by 15% globally and by 31% in the US.

Overall music sales worldwide totalled £12.67bn, will digital sales rising by 24% but failing to make up the shortfall.

The music industry did however see growth in areas such as income from radio and TV plays, which rose 16.3% to £548m.

That figure was predominantly accounted for by plays in Europe with £394m being taken in on artists behalf by organisations such as the PRS.

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VenusInfers on Wed Nov 25 20:46:05 via TwitterRide
Awful news RT @Gigwise: Reef To Reunite In 2010 For UK Tour: The band behind 'It's Your Letters'... http://bit.ly/6dXqoo
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RT @Gigwise: via @melissacarissa YAY! Reef To Reunite In 2010 For UK Tour: http://bit.ly/6dXqoo <-- Used to be great live..l'm there.
needlegroove on Wed Nov 25 17:23:03 via HootSuite
@achrisevans YAY! RT @gigwise Reef To Reunite In 2010 For UK Tour: The band behind 'It's Your Letters'... http://bit.ly/6dXqoo
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Paul Weller Announces Two Royal Albert Hall Shows For May 2010: Get your tickets through @Gigwise... http://bit.ly/51tCVf
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