Digital music sales increase, break previous records in the midst of third calendar quarter

Music industry has had a boost from digital music sales. Since the advent of infamous iTunes from Apple, the music industry has revived to full strength. This year, digital music sales are expected to break all of the previous records.

It is no riddle that digital music has outpaced physical music album sales but the market of digital albums and tracks sales is growing at an exponential rate. According to a report by Nielsen Wire, the likes of iTunes, Amazon.com and Google Play have helped in 1 Billion sales of digital tracks through August this year.

Moreover, the company sheds insight on the sales of digital albums. Last year, these platforms, and many others sold more than 100 million digital albums. This year, the sales have already reached 15 percent growth and are expected to progress further by the year-end.

In 2008, according to Nielsen Wire, the total number of digital tracks sales was near a billion. Last year the number grew to 1.3 Billion. This year, through August, sales have already reached a billion-unit sale and there are four months left until December 31.

Mobile devices, both smartphones and tablets alike, have paved the path for increased sales of digital tracks from platforms like iTunes, Amazon.com and Google Play. Apple’s iPhone and iPod lead the way.

Online music streaming services like Sirius XM Radio, Spotify and Pandora Media were thought to make a dent on the sales of digital music. However, the market remains unchanged; rather these online streamers have also seen an increase in consumption from mobile devices and video streaming devices like Apple TV and Roku LT/HD.

“As we look ahead, it’s clear that digital music purchases — and consumption through streaming sources — will continue to grow, and that consumers’ appetites for digital music will change at the speed of technology,” David Bakula, senior vice president of client development for Nielsen, said in a statement.

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Posted by Usman Khalid on Oct 3 2012. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.