Global online music sales hit 10% of all music sold
Posted on 18/01/07 12:18 by Seán Byrne                             
Global online music sales hit 10% of all music sold

Global music download sales have continued to grow, with sales over the past year almost doubling, amounting to about £1 billion (US$1.97 billion), according to the Mirror. 

This comes despite a recent report of iTunes appearing to slow down.  The number of songs available online to download has also doubled to over 4 million tracks to choose from.  There are currently around 500 legal music download services between 40 countries. However, while music download sales have reached 10% of all music sales, the continued fall in music CD sales has resulted in overall music sales declining.  For example, the major high street chain HMV has reported £26 million (US$51 million) in losses due to declining retail store sales.  

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