Phonographic market

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Phonographic market is a part of music industry devoted to phonograms (vinyls, CDs, mp3, etc.). When Thomas Edison invented the phonograph in 1877, the phonographic market belonged to the opera and in 1905 Enrico Caruso was the first and only artist who sold more than 1000000 copies of his record. The development of phonography had been stopped twice because of the world wars, but after 1948 when Columbia Records introduced new format of record - long play - vinyls were more and more popular. Thus in 1963 The Beatles were another million seller and between 1967 and 1977 longplays were the most popular phonograms all over the world. In the eighties compact disc replaced vinyls in the phonographic market. In 1990 the first song that appeared on mp3 was Tom's Diner by DNA featuring Suzanne Vega and these electronic formats dominated the Internet completely in the late 90s. Official record sales started to decrease and major labels stopped this process in 2006 when mp3 and other digital formats of phonograms were officially sold and allowed.[citation needed]

Total music market 2003.png

According to the IFPI more than 95% of the total revenue from music in 2003 was derived from the 30 major countries in the proportions shown above, organized roughly by geographic location.