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Online Downloads Mostly Illegal, Study Says

by Evan Shamoon on January 20, 2009 at 04:32 PM





While the iTunes store is doing better than, say, Tower Records, it's still getting a miniscule fraction of online music downloads. According to a report by the International Federation of the Phonographic Industry (IFPI), 95% of the music being downloaded online is illegal.

The global music trade body said this is its biggest challenge as artists and record companies miss out on payments.

While the digital music business has grown steadily during the past six years -- and online music sales have risen 25% since last year -- the organization said worldwide music market revenues shrank overall by 7% last year, due largely to a drop in CD sales. 1.4 billion single tracks were legally downloaded in 2008, with the top-selling digital single, Lil Wayne's Lollipop, selling 9.1 million copies.

It is estimated that more than 40 billion music files were illegally shared in 2008. Which for those keeping score at home, works out to about an album per human being. [From: BBC]

Tags: business, itunes, music, online music, OnlineMusic, retail, shopping, studies

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