For first time, digital music matches physical sales
Fueled by the popularity of streaming, digital music has matched and will likely soon surpass physical formats in the money it generates, a global industry group said Tuesday. The IFPI, the London-based body for the recording business, described the boom in streaming services as good news for the industry even though overall revenue still slipped in 2014. For the first time, digital and physical music sales were roughly even with each representing 46 percent of revenue for the industry, with rights for performances, films and advertisements making up the rest. "I think we will be looking in the next couple of years at digital surpassing physical," said Frances Moore, chief executive of the IFPI, which stands for the International Federation of the Phonographic Industry.
Source: Yahoo Music
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