The digital era has officially made its mark. In a report by the International Federation of the Phonographic Industry (IFPI), digital sales now account for more revenue, globally, than that of physical copies.
The report states that in 2014 digital revenue rose nearly 7% to $6.85 billion. Physical sales, meanwhile, dropped 8% to $6.82 billion for the year. With streaming services like Spotify, YouTube’s Music Key, Jay Z’s TIDAL and Apple’s Beats Music on the rise, digital revenue is only expected to rise in the coming years, marking a complete shift in how consumers get their music. But there are still some kinks to work out: downloads account for 52% of digital revenue, but the number of total downloads is falling while streaming numbers continue to rise.
That’s not how it is in every country, though. For example, in Japan, 78% of the music industry’s revenue comes from CDs. Germany comes right behind with 70%, and France is at 57%. Directly to the north, however, in Spotify’s home country of Sweden, 92% of revenue comes from digital sales.
It’s safe to say CD’s will be a thing of the past in a few years, like cassettes before them. Enjoy them while they last, ladies and gentlemen, and check the specific numbers below.