Music Sales Slow By 8 Per Cent Worldwide

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.