Global Music Sales Fell 7.6% in 2003. Fourth Year Of Decline.

Sales of recorded music worldwide fell 7.6% in 2003, the fourth consecutive year of decline, according to the International Federation of the Phonographic Industry.

Total sales were 2.7 billion units valued at $32 billion, down $6.2 billion from 1999 totals. The IFPI cited CD burning and illegal music downloading as the primary reason for the decline, along with competition from video games and DVDs as well as economic uncertainty in Latin America and Asia.

Universal was once again the top-selling record label, although its market share fell from 25.4% in 2002 to 23.5% last year. EMI topped Sony to become the #2 label in the world with 13.4% of market share. Sony claimed 13.2%, and Warner 12.7%. Bertelsmann, who has just merged with Sony accounted for 11.9% of the world market.