The value of record sales in the first half of 2002 is down 9.2% on last year according to the latest figures from the International Federation of the Phonographic Industry – needless to say piracy (downloads and CD copying) has been blamed. This year has also seen UK sales, which has previously resisted the global downturn, fall by 6.2%. Worst hit was Japan, down 14.2%, sales in the US went down 6.8%, sales across Western Europe as a whole were down 7.5%.
The IFPI has called music piracy "the greatest threat facing the music industry today". IFPI chairman Jay Berman, calling the figures “disappointing, but not unexpected”, told reporters: "The industry is in transition, with widespread CD-R copying and internet downloading continuing to affect sales. It is encouraging that our member companies appear to have an exceptionally strong release schedule in the second half of the year."
As previously reported the release schedule leading up to Christmas is particularly strong. The Elvis and Rolling Stones compilations are selling well, ‘best ofs’ from U2 and Westlife are expected to shift many units, as are new albums from Robbie Williams and Craig David. Many hope this line up and the Christmas rush will help the UK market, at least, regain ground before the end of the year.