Digital downloads break records in 2011
February 7, 2012 Leave a comment
Internet retailer cites Nielsen Co. and Billboard as sources showing that consumer’s digital music purchases outspent what they bought in hard music by a small but decisive margin of less than one percent. The strong growth of 8% in music digital sales doesn’t mean that the loss in hard sales was completely offset. Although the subscription growth in services of Spotify and Pandora muddy the total music measurement waters, industry pros continue to be cautiously optimistic that the digital gains will continue to grow to offset the hard cost losses.
In print publishing 2011 was the year when first Amazon and then Barnes and Nobles reported their respective digital products outselling the hard covers. January 2012 saw a significant surge in ebooks sales as holiday e-reader gifts were activated and consumers began to download to their new digital devices.
These music and book increases continue to be driven by digital delivery development. 2012 is likely to be a year where there is less anxiety about digital cannibalism and more concern about device developments to fuel the download growth
Room for Discussion
What do you think will be the long term implications of continued digital download growth for the music and book industry. What competitive partnerships can you see growing from this trend?