Is it time to bid goodbye to the CD? It is if you listen to the International Federation of the Phonographic Industry (IFPI).
According to Arts Technica, the IFPI is claiming that “If current trends hold, U.S. digital music downloads will rake in more money than physical formats next year. Worldwide, digital will overtake physical by 2016.”
The United States is ahead of the technological curve, with consumers buying “the most digital music relative to their total music purchases.” The growth of the U.S. digital market, the story says, “was quite constant from 2004 to 2007, then jumped 12 percentage points during 2008.” The article continues: “Extrapolating this growth shows that digital music will account for the majority of major label revenue in the US market in mid-to-late 2010.”
You’ve been warned.
Via: The Daily Swarm.