CDs down but not yet out, say music pundits

CANNES, France (AFP) — CDs may well be seen as 'yesterday's' technology by young digitally-savvy music lovers, but there's life left in the shiny discs for some years to come, leading industry executives said Sunday.

Plummeting CD sales worldwide have been blamed for many of the current woes of the global music business as new digital music products and services continue to grow and seduce consumers.

But that is only part of the CD story.

"I believe there will be sales of physical (CD and vinyl) products for many years to come," Jean-Bernard Levy, who heads up Universal Music's parent company, entertainment giant Vivendi SA, told a music conference at the MIDEM music mart, the world's biggest music industry event taking place in this Riviera seaside resort.

Many consumers are still buying CDs in supermarkets, retail stores or from online stores such as Amazon, ...