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SONY
SONY predict a revamp of sales in the
music industry
Sony declared that sales in the music
industry was at an increase, thanks to a sharp crackdown on
free Internet music downloads, and the installation of legal
online music sales.United States Sony Executive Howard
Stringer said, “It is clear that the illegal download impact
was reduced by the introduction of the legal download
service”.
The Recording Industry Association of
America, (RIAA) linking five major recording companies,
announced that a new wave of judicial pursuits were being
launched against 532 servers, sharing “peer to peer” files.
Among them ‘Kasaa’, which was accused of being responsible
for the drop in
sales which plagued that sector for three
consecutive years.
“Sales have been revived, and the loss of
revenue decreased”, Howard Stringer said, during the meeting
of the World Economic Forum in Davos. I hope that Sony will
benefit this fiscal year ending in March, although it is
still too early to be sure”, he added. .
Sales of Sony Music plunged 8.9% in the
third quarter of 2003, but Stringer estimates that after
this very significant low, sales seem to recover slowly, he
does not know whither the market is stagnant or if it is
just
experiencing a slight low.
Stringer’s declarations followed the
publication of a study which indicated that the illegal
download campaign, has caused a world wide low in
illegal downloads. Goldman Sachs and UBS Warburg Financial
Analysts were also optimistic that the success of new
digital recorders, access to legal download sites and the
pursuits of offenders, will most certainly put the music
industry back on track.
Howard Stringer was careful to endorse
the efficiency of the proceedings, he said that although the
situation seem under control, illegal downloading has yet to
be eliminated.
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