Tech
Music industry: Piracy is choking sales
Worldwide sales of music CDs, records and cassettes fell for the third year in a row, hit largely by rising Internet piracy in the United States, according to an international recording industry group. Last year saw the steepest fall yet, with a 7 percent drop in global music sales and a 10 percent fall in units sold in the United States, according to figures for 2002 released Wednesday by the International Federation of the Phonographic Industry (IFPI).
Worldwide sales of music CDs, records and cassettes fell for the third year in a row, hit largely by rising Internet piracy in the United States, according to an international recording industry group.
Last year saw the steepest fall yet, with a 7 percent drop in global music sales and a 10 percent fall in units sold in the United States, according to figures for 2002 released Wednesday by the International Federation of the Phonographic Industry (IFPI). News of falling music sales has become a recurring refrain from an industry beset on all sides by an anemic economy, by changing consumer consumption patterns and by high-tech piracy competition. Read the full story.