Legal music download triples
RIAA and MPAA might continue their crusade against illegal music sharing and the p2p software developers. However, the trend of legalized music downloading is growing on a daily basis. The latest reports in claim that the music downloads from the Internet tripled in value during the first half of this year. This is impressive as it now accounts for as much as 6 percent of total record industry sales.
This goes on to prove how the trend has grown in the last couple of years and online sales is something music companies would have to be serious about. In financial terms, the value of digital music downloads to computers and mobile phones rose to US$790 million in the first half of this year. This is around three times the amount of $220 million during the same time last year.
The report was released by the International Federation of the Phonographic Industry (IFPI) on Monday. Impressively, the London based group also said that the digital music market has already overtaken the global singles market in terms of value. Online music sales are directly affecting the sales of CDs and DVDs in the market which is seeing a continues decline in sales terms.
IFPI said in their statement: â€œThe figures show online and mobile sales making a significant impact on the world music market for the first time.â€