18 January 2009

Legal downloads swamped by piracy

Ninety-five per cent of music downloaded online is illegal, a report by the International Federation of the Phonographic Industry (IFPI) has said. The global music trade body said this is its biggest challenge as artists and record companies miss out on payments. There has, however, been a 25% rise since last year with downloads now accounting for a fifth of all recorded music sales. The IFPI said worldwide music market revenues shrank by 7% last year. This was blamed on falling CD sales, while the increase in digital sales failed to make up for this.