Report: Global Music Sales To Slip

A new report from PriceWaterhouseCoopers says global spending on recorded music will fall from $33.4 billion worldwide in 2007 to $32.5 billion by 2012, a .6% compound annual decline. That's for all formats of recorded music combined.

Regionally, Latin America and Asia are expected to see gains, driven mostly by digital formats, but declines in the U.S. and the rest of the world will offset that positive note, the report says.