Interesting conclusion

[jdotmi]

Heh. Gotta love this. Apparently, the music industry is fighting against privacy. Something most all of us already knew.

Global music sales spin lower
Wednesday, April 9, 2003 Posted: 7:36 AM EDT (1136 GMT)

LONDON, England -- Sales of recorded music slumped worldwide last year due to Internet piracy, increased competition from other entertainment sectors and a decline in consumer spending, an industry group said Wednesday.

Despite a string of hits from the likes of Eminem, Norah Jones and Shakira, the International Federation of the Phonographic Industry (IFPI) said global revenue fell 7 percent to $32.2 billion in 2002.

The sale of CD albums -- which accounts for 89 percent of the market -- slipped 6 percent, the IFPI said. Singles and cassettes were hardest hit, dropping 16 percent and 36 percent respectively.

The London-based group said sales are expected to slump by a further five percent this year even as the industry intensifies its fight against privacy, and continues to cut costs and diversify its products.

Full text of article.

Comments

An interesting side note. (is that B-flat?)

[amberthistle.livejournal.com]

"However, the IFPI said one positive trend in industry was the growth in sales of music videos, which saw unit sales rise 12 percent in 2002 -- due mainly to the increased use of DVDs.
The industry group said sales of DVD videos rose 58 percent last year, while VHS sales fell 42 percent."

Well, YEAH!!!! DVD's are know to have extras. DUH! More bang for your buck! And personally, I've found groups I never knew existed through the joys of what they call "piracy". If I really like a group, I'll search half.com and find the album I want. Is that piracy, or freedom of economic principles?

Soapbox scattered.
Peace.

Re: An interesting side note. (is that B-flat?)

[jdotmi.livejournal.com]

No doubt!

[meenfrmr.livejournal.com]

Boy it can't be because the economy is shit and no one wants to spend money on crap cds anymore. I think it's funny that they still include cassette sales since most products anymore are cd products. they're just trying to point the blame on piracy for their own shortcomings so that the government will help them keep their monopolistic hold on the music industry.

[jdotmi.livejournal.com]

I just find it interesting that they want to crack down on privacy.

;-)

Re:

[meenfrmr.livejournal.com]

mmmm...privacy

[bearlover.livejournal.com]

Ahhhh. Poor Mr. CEO of record company. He'll only get one new Lexus this year :(

[jdotmi.livejournal.com]

Actually, the CEOs aren't taking paycuts.

It's all the B-list artists who are getting the axe.

Re:

[bearlover.livejournal.com]

Surprise, surprise.