Monday, June 25, 2007

Digital Music Sales To Overtake Physical Sales Worldwide in 3 Years

According to a new report issued by PricewaterhouseCoopers, digital sales of music will overtake physical music sales worldwide in 2009, with the U.S. following one year later. A key driver of this continued acceleration is mobile music. Digital sales in the U.S. are forecast to hit $6.6 billion in 2011, up 28.7% from last year. PricewaterhouseCoopers cites the following factors driving accelerated digital sales in addition to increased mobile consumption of music -- attractive pricing, enhanced interoperability and closings of music-focused retailers such as Tower Records.

The good news for the music industry is that the firm forecasts a reversal of the downward spiral that has plagued overall global music sales over the past several years. This bodes well for content owners as digital distribution becomes increasingly mainstream in the mobile world and everywhere for that matter.