Digital music market worth 2.0 billion dollars in 2006: IFPI

0 Comments | AFP, January, 2007

LONDON (AFP) — Global revenue from music downloaded onto computers and mobile phones doubled to about 2.0 billion dollars (1.54 billion euros) in 2006, an international trade body has said. But the digital business accounted for only about 10 percent of total music sales in 2006, and the surge in demand for downloaded tunes had not offset a decline in sales of physical music such as compact discs, the International Federation of the Phonographic Industry said Wednesday.

"By 2010 we expect at least one quarter of all music sales worldwide to be digital," IFPI chairman and chief executive John Kennedy said. "I would like to be announcing that a fall in CD sales is being compensated for by an equal or greater increase in online and mobile revenues. But that is not yet happening...