Digital music market overtakes Physical in the UK

For the first time in The United Kingdom, revenue from digital media sellers overtook revenue from traditional physical music formats. According to the British Phonographic Industry, digital music now accounts for 55.5% of music revenue in the UK.

The percentage comprehends the period from January through April this year. Revenue from digital music grew 23.6% in comparison to the previous year, to a total of £ 158 million ($241 million), while revenue from traditional physical music formats dropped 15.1% to £ 69.3 million ($97.7 million).

Worldwide, revenue from digital music is still somewhat shy in comparison to the physical market. It grew only 2.7% in 2011, but the overall share is relevant: 31% of the worldwide music revenue is now digital. And even though it is experiencing tiny growths, it is on path to take over just like it did in the UK, the third largest music market.

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