Days after a major record label announced digital music sales have surpassed CD sales, a recently published report indicates digital music sales will capture almost half of the entire U.S. music market.
In JupiterResearch's "U.S. Music Forecast, 2008 to 2013" report, analysts predict digital music sales will total 41 percent of the entire U.S. music market by 2013, up from 18 percent in 2008.
It seems that users who download digital music also like to purchase CDs from brick and mortar retailers. Sixty four percent of users who subscribe to digital music and 57 percent of people who download music have purchased a CD within the last 12 months.
Digital music has evolved into a major cash cow for the record industry, with Atlantic Records publicly announcing digital music sales have finally surpassed CD sales. Other record labels mentioned they saw a similar trend, and expect to see digital music outsell physical CDs.
Even though piracy remains a major problem, as users can easily download music through peer-to-peer file sharing services, online music services have continued to get new users interested in legal music downloads.
As the industry makes a transition from physical media to digital downloads, it seems record companies will have to brace themselves for lowered music sales.
Last week, Forrester said U.S. music sales in 2013 will be valued at $9.2 billion, which is a drop from the $10.1 billion in music sales in 2008. In 1999, the Recording Industry Association of America (RIAA) said the music industry was worth $14.6 billion.
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