'95% of music downloads illegal despite boom'
The digital music business is booming but 95 per cent of downloads are still illegal and not paid for, according to a report published today.
Making money from digital music is "the biggest challenge for music companies" at the moment, according to the International Federation of the Phonographic Industry's (IFPI) Digital Music Report.
It reveals that the digital music business has grown for six years in succession.
In 2008, it grew by an estimated 25 per cent and is now worth 3.7 billion dollars.
Digital music now accounts for 20 per cent of recorded music sales, up from 15 per cent in 2007.
But that success is overshadowed by the popularity of illegal downloading.
The IFPI estimates more than 40 billion music files were illegally shared in 2008.
That compares with 1.4 billion legal single track downloads in 2008, with the top-selling digital single, Lil Wayne's Lollipop, selling 9.1 million units.
The UK saw one of the biggest increase in digital sales in the first half of 2008 with sales up by 45 per cent.
UK consumers downloaded 110 million single tracks in 2008 and 10.3 million digital albums were sold - accounting for 7.7 per cent of the country's albums market.
John Kennedy, chairman and chief executive of IFPI, said: "The recorded music industry is reinventing itself and its business models. Music companies have changed their whole approach to doing business, reshaped their operations and responded to the dramatic transformation in the way music is distributed and consumed.
"There is a momentous debate going on about the environment on which our business, and all the people working in it, depends.
"Governments are beginning to accept that, in the debate over 'free content' and engaging ISPs in protecting intellectual property rights, doing nothing is not an option if there is to be a future for commercial digital content."
IFPI represents 1,400 companies in 72 countries.
Life & Style blogs
Charlie Charlie Challenge: everyone on the internet thinks it’s a marketing stunt, but it probably isn’t
Cher shows that ageing beauty will always be more classy than all that booty
Woman jailed for making 'loud sex noises'
What do the emojis on Snapchat mean?
Kendall and Kylie Jenner for Topshop: All the details on the debut collection
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Why this year's general election was the most unfair in Britain's history
- 1 Enrique Iglesias injured trying to catch a drone mid concert
- 2 Caitlyn Jenner, formerly Bruce Jenner, reveals new look on Annie Leibovitz shot Vanity Fair cover
- 4 Man on naked bike ride gets ejected after becoming aroused
iJobs Gadgets & Tech
£55000 - £65000 per annum: Recruitment Genius: Our client is looking for a Lea...
£45000 - £48000 per annum: Recruitment Genius: An IT Support Engineer is requi...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...
£20000 - £25000 per annum: Recruitment Genius: They are a small IT consultancy...