DIGITAL MUSIC TO SURPASS CD SALES

A new study has said that digital music sales will surpass the CD music sales in 2012.In the report, entitled “Global Recorded Music Market Forecast,” its Digital Media Strategies service says that physical CD revenues, which already plunged 16% to $3.8 billion last year, will decline an additional 29% this year to $2.7 billion.

Meanwhile, it says that digital music revenues will continue to grow, reaching $2.8 billion next year, and therefore surpassing CD sales for the first time.

“Digital music is not developing as fast as expected,” says Martin Olausson, Director of Digital Media research at Strategy Analytics. “While online revenues will expand further over the coming years, the overall size of the recorded music industry will continue to contract as record companies struggle to identify growth strategies.”

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