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Music Industry Sees First Sales Growth In 13 Years In 2012

Posted On: 2/28/2013

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TAGS: music sales, jukebox music, International Federation for the Phonographic Industry, 2012 music trends, music downloads, music CD sales, Digital Music Report

LOS ANGELES -- Worldwide music sales inched up less than 1% last year, the first measurable growth in the sector since 2000. UK-based International Federation for the Phonographic Industry released its annual Digital Music Report on Feb. 26.

The IFPI said total music sales were $16.5 billion in 2012, compared with $16.2 billion in 2011, an increase of 0.3%.

Growing sales of "authorized" downloaded music made the biggest contribution to the reversal of a 13-year decline. Digital music sales quadrupled its market coverage around the globe and consequently jumped 9% in sales volume during 2012 to $5.6 billion worldwide.

Most of the world still buys its music on audio CDs, unlike the U.S., where online sales surpassed CDs some years ago.