I am not sure that it is when you actually read the report. Considering the state of consumer confidence and the rapid development of digital technologies, music industry sales seem to be holding up pretty well. And that also accords with my own experience. I am still drafting and reviewing management and recording contracts for new bands here in Yorkshire.
There has been a rapid increase in legal downloads although the industry complains that 95 % of music downloads are unauthorized. How they work that out I really don't know. I think it has Io be taken with the same lorry load of salt as one discounts any other propaganda.