It has been revealed that revenue from digital music matched physical sales for the first time last year.
Revenue from digital sales accounted for 46% of overall income with physical media such as CDs and vinyl matching also with 46%. The rest was made up of things such as advertising and rights for performances.

The increase in digital revenue has been attributed to the rise in streaming which has helped bring more money into the music industry but despite this, overall revenue across the globe was down by 0.4%.

This figure may not seem like a lot but overall revenue has been slipping since the mid-2000s and this will become problematic for the industry. Less money being injected into the music industry means that as consumers, we will get less out of it; a horrible thought for the avid music fan.

Music industry body the IFPI created a report based around the figures and identified streaming as an area that could be improved upon calling it a "substantial untapped potential for growth within the paid-for category".

We are beginning to see changes and an expansion of this sector with the rise of heavyweights Tidal and Apple’s impending streaming service so next year’s figures will certainly be an interesting read.

Sony Music’s chief executive Edgar Berger commented on the change in how consumers are accessing their music saying: "The industry has shifted from an ownership model to access. I've not met anyone who can see beyond streaming. So this looks like a final destination".

It seems inevitable that digital will eventually surpass physical sales of music. There will always be a place for CDs but with shelf space at a premium in a lot of homes, the appeal of everything being stored electronically is certainly alluring.

For the industry to survive this change in consumer habits, streaming services will have to be made so that they are beneficial to the artists as well as the general music-listening public otherwise the industry will start to suffer.

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