For the first time, a record label has recorded more digital music sales than sales of CDs. Atlantic Records provided this figure from 12 months worth of sales figures dating until the end of September 2008.
Atlantic is part of the Warner Music group and has signed up singers including Björk, James Blunt and Kid Rock.
No other label has yet claimed such digital music success, with the UK’s digital sales at only 10% of total revenue. Digital revenue comes from song downloads through iTunes and other online music stores as well as music and ringtones for mobile phones.
So far, digital recording revenue has been challenging for the music industry as it faces falling CD sales and a constant piracy problem.
Atlantic’s achievement fuels hope for an industry whose business model had been plagued by fears that it was ruined by the advent of digital technology which allowed fans to download, share and copy music illegally.
Source: Guardian