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Another bad note for music industry

October 02, 2003|From Reuters

The battle-weary music industry surveyed the wreckage of another dismal six months Wednesday as global data showed music sales tumbled almost 11%.

Despite big hits from pop queen Christina Aguilera and rapper 50 Cent, Internet downloading and CD burning continued to ravage the industry, dragging music sales down to $12.7 billion in the first half of this year, a leading industry body said.

However, the International Federation of the Phonographic Industry indicated that the rest of the year may not be so gloomy, with a strong release schedule expected to limit the annual slide in CD sales to between 7% and 8%.

From Reuters

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