While record sales virtually all around the world continue to decline, in Argentina they continue to grow. According to Argentina’s Chamber of Record and Video Producers (CAPIF), Argentine CD sales grew by 3.82% for the first quarter of 2008 in comparison to the same time period in 2007.
During the first three months of 2007, there were 3.77 million legal CDs sold, according to CAPIF, while the number for 2008 grew to 3.89 million. Digital sales, including mobile, also grew by 44% for the first three months of 2008 compared to 2007, although no specific numbers were made available.
CD sales in Argentina have been on the upswing since 2003, following the collapse of the Argentine economy and its currency. The rise in sales has been attributed both to a strengthening of the economy as well as increased anti-piracy actions and a rise in local production. According to CAPIF numbers, fully 42.5% of all music sales in Argentina correspond to Argentine acts.