WebProNews

Digital Music Sales Up 25 Percent

The digital music business saw solid global expansion in 2008, growing by an estimated 25 percent to $3.7 billion, according to a report from the industry trade group IFPI.Digital platforms now account for around 20 percent of recorded music sales, up from 15 percent in 2007. Despite this the music industry is still plagued by large amounts of unlicensed music distributed online. The IFPI estimates over 40 billion files were illegally shared in 2008, giving piracy a rate of about 95 percent.