The BBC says that the International Federation of the Phonograhic Industry (IFPI) states that 95% of all music downloaded online is illegal. According to the IFPI it is the biggest challenge because many artists and record companies miss out on payments because of the illegal downloading of music. Steady growth of online music sales has lead to a 25% increase since last year, which accounts for a fifth of all recorded music sales. But the falling CD sales has not being made up by the increase in online music sales.
IFPI stated that there were 1.4 billion single tracks legally downloaded in 2008. The online music industry is now estimated to be worht $US 3.7billion per year.
I did the calculations on it worked out that the music industry is missing out on an estimated $US 70.3 billion per year due to illegal downloads or about K207 billion per year worldwide.
IFPI stated that there were 1.4 billion single tracks legally downloaded in 2008. The online music industry is now estimated to be worht $US 3.7billion per year.
I did the calculations on it worked out that the music industry is missing out on an estimated $US 70.3 billion per year due to illegal downloads or about K207 billion per year worldwide.
Posts
No comments:
Post a Comment