Financial Times: Piracy and downloading hit music sales | iLounge News

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Financial Times: Piracy and downloading hit music sales

“Informa Media, the music consultancy, on Tuesday predicted that recorded music sales would fall by almost 9 per cent this year to $28.2bn, with a further decline to $27.4bn in 2004.

Music sales have been in freefall for three years, hit by online file sharing and widespread CD copying by organised criminal gangs and pirate factories across Asia and eastern Europe.”

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Comments

1

Ummm,
http://www.forbes.com/home_asia/newswire/2003/11/17/rtr1150606.html

Hello!

Posted by gti on November 19, 2003 at 7:09 AM (PDT)

2

Yeah, exactly, gti.  How in the blue thunder does this article square with the Forbes article posted below which says, “In fact, after gains in recent weeks, the quarter’s CD sales look poised to top the 221 million units sold last year, said Geoff Mayfield, director of charts for Billboard Magazine.”

Methinks that the record company execs need to keep floating the canard that it is illegal file sharing that is destroying their business.  Easier to keep the myth going rather than look at the real reasons that the golden goose is cooked.

Posted by Obadiah on November 19, 2003 at 8:33 AM (PDT)

3

They carefully word these reports.  The only thing decreasing is the RATE of PROFIT INCREASE.  So if you were to graph CD sales, the second derivative would be negative for 2003.

Posted by Jeremy on November 19, 2003 at 9:49 AM (PDT)

4

jeezz…dont they also understand the the economy is a reck?  maybe people would rather have basic necessities than brittney spear’s crappy album..

Posted by lilmoonee on November 19, 2003 at 12:15 PM (PDT)

5

The record industry just needs to learn a few things from the movie industry I think. I mean, I just bought LOTR: The Two Towers 4-disc DVD set for about $24. That turns out to be $6 per disc, and each disc has well over an hour’s worth of material. Why would I pay $18 for a CD that only has 45 minutes of music at best. And generally only one song on the whole album is good. The record industry just needs to wise up and either make a MUCH better product, or make the existing product a whole lot cheaper. My 2 cents…..

Posted by Ro-Sham Bo on November 19, 2003 at 2:55 PM (PDT)

6

Step 1: Put out crappy, derivative music..

Step 2: ?????

Step 3: Profit!

Posted by Angry Black Man on November 21, 2003 at 7:47 PM (PDT)

7

people wont pay their hard earned money for a crap product abd who can blame them.  The LOTR analogy is a very good one as it’s probably the best value for money disc release of any kind within the past 20 years, the music indistry should look a nbd learn, people will pay for a quality product but not for rubbish. Until the suits in the music biz get it people will still keep downloading for free.

Posted by mac_daddy on November 23, 2003 at 2:06 PM (PDT)

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