RIAA Releases Mid-Year Stats
Mainly because of, "music piracy on peer-to-peer networks and illegal CD copying," music industry shipments to retail markets plummeted nearly 10% in the first six months of 2003, representing a 9% decrease in dollar value compared with the first six months of 2002.
All music format shipments (total US music shipments), including to direct and special markets, dropped 15.8% from 398.5 million units (first half of 2002) to 335.6 million units (first half of 2003), say RIAA 2003 mid-year shipment numbers, released today. "In dollar value, this represents a 12%, from $5.5 billion to $4.8 billion."
RIAA president Cary-Sue Sherman says, "While there are other factors contributing to the decline of music shipments in 2003, including the fact that there are significantly fewer music retail locations, illegal file 'sharing' continues to adversely impact the sale of physical CDs."
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"We believe the use of these illegal peer-to-peer services is hurting the music industry's efforts to distribute music online in the way consumers demand."
"The music industry has worked to educate the public about the illegality of unauthorized music distribution on these networks," says the RIAA, going on, "additionally, major music companies have continued to make vast catalogues of music available to dozens of online music services to help create legitimate, high quality and inexpensive alternatives to Internet piracy."
In addition, says Sherman, "we look forward to exciting releases from new and established artists in the second half of the year."
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