French music sales down (again)

On the eve of Midem in Cannes, the French industry body has released worrying figures. “The 2007 fall is between 15 percent and 20 percent probably around 17 percent, with the market for gross sales worth less than 800 million euros,” Christophe Lameignere and Herve Rony, respectively chairman and managing director of the country’s recording industry body, SNEP, told AFP. This represents a staggering 50% drop since 2002. The drop-off is accounted for by a drop in ringtone sales. In all, the Internet represents just 10% of sales. Although this is increasing, it is doing so less than in previous years.