LONDON - The market for music downloads and other digital forms of music has tripled in a year, helping offset a continuing decline in sales of CDs and other physicial formats, an industry report said Monday.
The International Federation of the Phonographic Industry estimated that digital music sales totaled $790 million in the first half of this year, equivalent to 6 percent of industry sales, compared to $220 million in the same period a year earlier.
Recorded music sales fell 1.9 percent to a retail value of $13.2 billion in the first half of 2005, compared to $13.4 billion in the same period of 2004.
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