UK album sales fall 11% in 2007
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Album sales in the UK suffered a drop of nearly 11% in 2007, according to new industry figures.
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While sales of physical  albums plummeted during the first nine months of 2006, big  increases in the demand for digital tracks and albums have kept  the overall music business in line with last year's totals.
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Sales of singles in the UK show signs of recovery as the music industry as a whole grows, figures show.
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EMI Group PLC, one of the world's largest music companies, warned Monday that its full-year sales and profits will be below expectations because of the delayed release of two key albums and market weakness in the fourth quarter. Its shares fell 16 percent.
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The holiday mood at independent music retailers is one of cautious optimism, despite Nielsen SoundScan numbers showing that overall sales at U.S. indie merchants were down 7.1% from last year as of Nov. 28.
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The number of students accepted by UK universities is down by 3.7% compared with this time last year.
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Sales at Apple's online music shop  iTunes Music Store fell off a cliff in the first six months of  2006, according to a recent survey.
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Company claims one million songs sold since prices were cut.
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U.S. album sales were down 4.2 percent in the first half of the year, but sales of music downloaded online soared 77 percent, according to industry figures.
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UK same-store sales posted an annual decline in November for the first time in almost a year after five interest rate increases and a drop in house prices weakened consumer spending, the British Retail Consortium said.
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Sales of music fell at a faster rate in 2007 than 2006 despite digital sales soaring, and the gatekeepers of the Web must act if the industry is to beat piracy, the international trade body said on Thursday.
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Retail sales in Britain dipped in December from the previous month, falling in the crucial run-up to Christmas, according to official data published Friday.
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Though CD sales are down in the UK, a large increase in music downloads is picking up the slack.
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EMI has blamed a weak release schedule for a failure to exploit an improvement in the music sector, with sales falling by more than four times the industry average.
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EMI lost two of its biggest acts in  2007, is in danger of losing more, has seen record sales slump  and on Tuesday announced major layoffs.
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Music fans in the UK have reason to celebrate. Apple announced it will lower the prices it charges for music on its UK iTunes Store within six months. The decision marks the end of a European Commission antitrust probe into Apple's pricing practices.
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Global sales of recorded music fell for a fourth consecutive year in 2003, according to figures released Monday by the International Federation of the Phonographic Industry.