One-third of U.S. music sales to be digital
By Erina Lin, Monday 26 November 2007 at 23:16 :: World Digital Media Trends :: #902 :: rss
The transition to digital platforms in the music industry is underway, but it may not be soon enough, according to a new study “U.S. Music Forecast: 2007–2012,” from Jupiter Research.
The report indicated digital music spending will represent more than one-third of U.S. consumer music purchases by 2012.
However, the increase in digital sales will still not make up for the lost CD sales anticipated in that period.
The report showed that while CD sales will keep on dropping in the next five years, digital music spending will grow to only $3.4 billion, eMarketer reported.
"That means digital music sales will not compensate for lost CD sales in five years, nor will they return the overall industry to growth," said Jupiter analyst David Card.
According to the report, music downloads will replace CDs for many music buyers, but not most, at least in the next five years.
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