Digital Music Outperform Physical Sales Globally

Although it may have only been a matter of time, digital music sales have officially overtaken CD sales globally for the first time ever. 2014 saw revenue from digital sales grow seven percent to $6.85 billion while physical sales like CDs fell eight percent to $6.82 billion. The report from the International Federation of Music shows that, in addition to digital revenue findings, digital streaming services like Spotify have grown steadily from 40 percent to $1.57 billion. These findings also are a sign that the industry as a whole is generally stable, although for years, many have had the consensus that the music industry is in turmoil. Say what you want, numbers don’t lie.