In what must be the understatement of the year, association CEO Mitch Bainwol said that although the problem had not been eliminated, digital downloads have emerged into a growing, thriving business, and illegal file-trading is flat.
The RIAA has managed to shut down BearShare, WinMX and Grokster while others have turned legitimate. It has sued just over 18,000 individuals for sharing songs online, with 4,500 settling for about $4,000 per case.
While album sales have continued to fall, Bainwol says digital sales, up 77 percent, make up for the shortfall.
Still, Bainwol has to have made the most optimistic comment in the media since President Bush claimed that the war in Iraq was over a few years ago.
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