“The report by Informa Media said global Internet music sales, which includes sales of CDs from retail Web sites such as Amazon.com (NasdaqNM:AMZN – News) and song downloads from services such as Apple Computer Inc.‘s (NasdaqNM:AAPL – News) iTunes, will reach $3.9 billion by 2008, up from $1.1 billion in 2002.
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But the value of lost sales due to CD-burning and downloading free songs off so-called peer-to-peer networks such as Grokster and Kazaa will rise to $4.7 billion in the same period from $2.4 billion this year, the British research firm said.”
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