The global music-label trade body says that music sales worldwide were flat in 2004, the best year-on-year trend in five years. While sales of physical music products slipped, digital sales grew astronomically.
The International Federation of the Phonographic Industry still blames file-sharing for most of the industry’s woes, failing to realize the digital sales figures reflect that consumers are still willing to pay for music, if it’s delivered in a preferred format or as part of a value-added service. The lack of diversity in music offered by big labels and radio might play a part, too — 48 of the year’s 50 best-selling records came from the four major labels, with two-thirds of the top 50 coming from Sony BMG and Universal alone.
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