Digital music sales double

Still not replacing CDs though

18 January 2007 0:50 GMT / By Stuart Miles

A new report has announced that we are all buying more digital music, however not enough to threaten CD sales.

The report, commissioned by the International Federation of the Phonographic Industry (IFPI) says that digital music sales around the world have almost doubled to around $2bn in 2006.

The results though fall short of the "Holy Grail" whereby consumers totally embrace digital music over the humble CD, which celebrates its 25th anniversary this year.

The results mean that according to the IFPI, digital sales could account for a quarter of all sales worldwide in 3 years time.

The IFPI's 2007 Digital Music Report said consumers last year downloaded 795 million tracks, up 89% on 2005, from almost 500 legitimate online music services available in 40 countries.

IFPI chairman John Kennedy said: "The pace of transformation in our industry is breathtaking, but at the moment the holy grail is evading us".

"I would like to be announcing that a fall in CD sales is being compensated for by an equal or greater increase in online and mobile revenues. But that is not yet happening on a global basis."

At the start of this year the Official Chart Company in the UK announced that it was changing the way the Top 40 Chart was calculated. The new chart now includes digital sales regardless of whether or not the song is available to buy as a single on the high street in the traditional sense.

Since the change, the band Snow Patrol has re-entered the chart in ninth place with a single it first released in summer 2006; Chasing Cars, while last week saw an unsigned band place at number 31 due to a strong following online.

Full tags

Audio, Online, Music downloads, IFPI