According to new figures released by the International Federation of the Phonographic Industry, total global music sales dropped by more than 8% in 2008. In the US, total sales were down nearly 19%. The drop comes despite double-digit gains in digital music sales, which are still too small to put a dent in the decline of physical music sales.
You can be sure that digital piracy will receive some of the blame for 2008’s slide. And to be fair, record labels have every right to be upset about the infringement of their intellectual property rights.