Both Yahoo and the BBC website report that online music sharing has damaged record sales.
Also cassettes (duh, doesn't suprise me sales of those drops) sales are going down. Albums are still very populair, and sales of them has increased.
In the US, the world's largest market, singles and cassette sales fell by 38% and 46%, which the record companies blamed on free download services applied by Napstar, MP3.com and other online music services. |
Sales in the global market, worth $36.9bn (£25.8bn) last year with 3.5bn recordings sold, fell by 1.2% when compared to 1999.
CD album sales, which rose worldwide, were the only bright spot in the report.
A lot more numbers and reasons can be found in the article of the BBC and in the posting on Yahoo.
Source: BCC & Yahoo
