Global recorded music sales in 2001 fell 5% to $33.7 billion because of a sluggish global economy and increased consumer piracy, the International Federation of the Phonographic Industry said. The trade association said demand for music remains strong, but the proliferation of free music on the Internet and mass copying of compact discs have cut into sales.
The federation said total unit sales fell by 6.5% and the value of sales fell by 5%. Some analysts had predicted 2001 sales could fall by as much as 10%. In 2000, the recording industry suffered a slight fall in global music sales.