Digital Music Sales Hit $1.1 Bln in 2005

The IFPI reports digital music sales tripled in 2005 to reach $1.1 billion worldwide.

The International Federation for the Phonographic Industry reported today that worldwide digital music sales tripled in 2005 to $1.1 billion, up from $380 million in 2004, with spending split roughly 60-40 between online music services like Apple’s iTunes Music Stores and mobile phone ringtones.

Based on the IFPI’s figures, digital music sales would account for approximately 6 percent of the music industry’s worldwide revenue. However, while the IFPI finds that overall music revenue is still declining year-to-year, the IFPI contents legitimate music services are now pushing back against illegal file-sharing services. “Already in the UK and Germany