Global music sales expected to stay flat in 2006
Internet piracy has led to a stage when the sales of music CDs and Cassettes are falling around the world continuously. However, there is still some hope with the sales of digital music crossing the $1 billion market last year. Nevertheless, the market overall saw a decline and is expected to remain flat in 2006.
John Kennedy, chief executive of the International Federation of the Phonographic Industry confirmed this fact as the market is expected to see more growth in the sale of music content over the internet. He said in a statement: “We have tipped the scale on internet piracy. Newcomers are going to legal online stores.â€
IFPI research also shows that the consumers in countries like Britain and Germany are getting used to purchasing music from the legal online stores than resorting to downloading them from p2p networks. This is good news for the music companies. However, other European countries like Spain, France, and Sweden still are failing to get web users to stop downloading pirated songs from the net.