Online Music Sales
The music industry as a whole continues its downward slide. According to the International Federation of the Phonographic Industry, sales of music in North America dropped 18.6 percent in 2008, to $4.98 billion. CD sales alone dropped by almost a third. Not good news for brick-and-mortar retailers like Tower Records and Borders.
Meanwhile, sales of digitally downloaded songs, online subscription services, and ad-supported streaming music on websites grew by 16.5 percent, to $1.78 billion.
(Source: eMarketer)
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