Global music sales continued to slow last year, with worldwide sales growing by a mere two percent in 1997 over 1996, according to figures released by the International Federation of the Phonographic Industry. Sales in 1996 showed a 5.5 percent increase over 1995, while 1994 retail sales growth was measured at 15 percent.

The new figures indicate that North America reclaimed its position at the top of the global music market in 1997, with 33.8 percent of the market share, beating out Europe’s 33.3 percent. Japan remained the third-largest region for sales and the second largest individual country behind the United States, claiming 16.5 percent of the market.