After several years warning of dire consequences for record companies because of rampant music downloading and copying, the Australian Record Industry Association yesterday released sales figures for 2003 showing an increase of nearly 8 per cent.
Sound of cash registers is music to the ears – Music – www.smh.com.au
The Australian counterpart to RIAA is claiming that CD sales in 2003 increased by 8 percent, even though the record industry has been claiming doomsday was just around the corner due to file sharing.
The sale of singles went down, sale of DVDs nearly doubled, and cassette sales went down another 40%.
Maybe it’s time for the record companies to embrace file-sharing instead of trying to stop it?