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Apple iTunes music sales slid 13% in 2014, as paid downloads slow

Music sales for Apple iTunes dropped 13% in 2014, reports indicate
By: Michael Hatamoto | Business, Financial & Legal News | Posted: Oct 24, 2014 9:30 pm

Apple saw iTunes music sales plunge 13 to 14 percent in 2013, as the music industry continues to be extremely fragile, according to recent reports. Music sales have been flat for a several years, and have dropped a whopping 50 percent since 2000, as listeners have embraced digital music files.

 

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Music companies are struggling to convince listeners to drop free, ad-supported programs and sign up for monthly subscriptions - typically around $10 per month.

 

To compare, revenue of iTunes downloads slowed only 2.1 percent in 2013, the International Federation of the Phonographic Industry (IFPI) said. However, ad-supported and subscription streaming services helped make up for the slight 2013 drop, while there was very little respite in 2014.

NEWS SOURCES:Cnbc.com, Cdn1.tnwcdn.com

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