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Overall Music Sales Drastically Slipping, Says Report

by Warren Riddle on March 18, 2009 at 04:51 PM

In news that should surprise no one, NPD Group, a market research firm, recently released statistics detailing the demise of CDs, and purchased music as a whole. According to the group's findings, over the last year, sales of CDs declined 19-percent, and the number of CD buyers in the U.S. decreased by a whopping 17 million. The decline in purchasing isn't limited to CDs, though. The number of consumers buying music of any kind also dwindled, as 13 million fewer people actually paid for music than during the same period last year.

While fewer people are paying for music, the numbers of those downloading music has increased. Digital downloads witnessed a 29-percent increase from last year, but many of the downloaders are now turning to free music sites, such as Pandora. What do all these numbers mean, you might ask? Well, after diligently crunching the statistics, we've reached a scientific conclusion: People still like music, they just really like free music. [From: The Wall Street Journal Digital Network]

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Tags: business, cd sales, CdSales, music downloads, MusicDownloads, npd group, npd-group, NpdGroup, pandora, retail, shopping, study, trend

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