The figures are startling and reveal that the global digital music market is booming.
Last year, the report claims, over 420 million tracks were downloaded worldwide, a figure 20 times greater than that for 2003.
This figure excluded music that was downloaded on mobile, a market which the IFPI estimates is nearly as large as music downloads in value. Together, these new distribution channels took record company revenues from digital sales to an estimated $1.1 billion globally, tripling in value compared to 2004.
On top of that, over 60 million portable music players, worth $9billion, were sold. $75 billion worth of broadband subscriptions and $50 billion of mobile data services were also sold.
In 2005, the number of legitimate music download sites reached 335 up from 50 two years ago, and these include the music download services that have been launched in Ireland – Sony Music Connect, Eircom Music Club, MyCokeMusic, Vitaminic and Wippit.
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