Jim Carroll

Music, Life and everything else

No halting CD sales slump

It really seems as if every week brings more bad news for the record industry. The closure of UK record chain Fopp, with the loss of 700 jobs, coincided with the publication of figures showing a slump in CD sales …

Fri, Jul 6, 2007, 09:10

   

It really seems as if every week brings more bad news for the record industry. The closure of UK record chain Fopp, with the loss of 700 jobs, coincided with the publication of figures showing a slump in CD sales for the seventh consecutive year.

In 2006, total music sales worldwide were down 5 per cent on the previous year, according to the IFPI, a lobby group representing record labels worldwide.

“We hoped that the decline in physical sales would be offset by the increase in digital sales,” said IFPI chairman John Kennedy. “But while digital sales have grown as expected, physical sales have fallen by more than expected.”

Predictably, IFPI fingered piracy and online illegal filesharing for this downturn.

A few labels must be hoping last weekend’s Diana bland-fest at Wembley Stadium or this weekend’s Live Earth smugathon will change that scenario.

We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 10 days from the date of publication.