Digital takes more market share as CD sales fall record 20 percent

24th January 2008, Comments 0 comments

As if it hadn't had enough already, there is more bad news for the music industry in Spain.

24 January 2008

MADRID - As if it hadn't had enough already, there is more bad news for the music industry in Spain. According to a study by Promuiscae, an association comprising music producers from all over the country, 2007 was the sixth year in a row during which CD sales have fallen. Not only that, it was also the biggest overall fall in sales that has been seen in recent years in Spain.

"The stark reality revealed by the statistics reflects a very pronounced fall in the sector," said Antonio Guisasola, the president of Promusicae. "And that's just making matters worse, as the figures over the last five years were already negative."

Spaniards spent a total of EUR 284 million in 2007 on CDs, DVDS and other physical media, compared to the EUR 367.3 million spent in 2006 - that's a drop of 21.7 percent, or some EUR 83 million less, according to Promusicae.

On the flip side, the sale of digital media grew from EUR 21.7 million in 2006 to EUR 27 million, an increase of 24.3 percent. This increase, however, is "not sufficient to alleviate the setbacks in the sales of physical media," the association says, attributing the problem of falling sales to piracy.

The drop in revenues from the music industry in Spain in 2002 was around 16 percent compared to the year before; in 2003, the figure was a six-percent drop; in 2004, 13 percent. In 2005, the trend continued, with the figures dropping six percent, while in 2006, they fell 15.3 percent. The download market now represents 9.5 percent of the market total, 3.5 percentage points higher than the year before.

In terms of the highest-selling artists, only five musicians managed to shift more than 100,000 copies of their albums in 2007, with Miguel Bosé topping the list with his latest release Papito, which sold around 250,000 copies

[Copyright EL PAÍS 2008]

Subject: Spanish news

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