Penn State International Law Review

First Paragraph

Europe is home to the world's largest retail market for music recordings. Europe has displaced the United States as the world's major music market in the last ten years. With 13.4 billion U.S. dollars in sales, Europe commands 34% of the global market, compared with 33% for the United States. To put it in perspective, these numbers place the European music industry ahead of the European Union's steel industry.