The real reasons the recording industry is down
In just three years, sales of pirate CDs have more than doubled, according to the International Federation of the Phonographic Industry (IFPI). Every third CD sold is a pirate copy, says the federation.
In some countries it is hard to find legitimately produced CDs. Ninety percent of CDs in China, for instance, are pirate copies. Counterfeiters have forced the price of a fake CD down to about $4, which only makes CDs in the music shops look even pricier.
Finally, music just isn’t as important to young people as it used to be. There is more competition than ever for the cash in a teenager’s pocket. “Youths are no longer defining themselves by music in the same way they used to,” says Mr Mulligan.