It can’t be just file-sharing
A graph showing the decline of CD sales in 2000-2004, split by major country in Europe is revealing in that some countries declined much, much faster than others.
Internet and broadband penetration was not any higher in Germany than in the UK or France during this period. So if file sharing was the only factor behind music sales declines, you would expect the declines to be roughly similar among these countries.
Link: � European CD sales 2000-2004 | IT Facts — Your Daily Research Synopsis | ZDNet.com.