Atlantic Records: Digi Music Outdoes CDs In Sales
Kunal Gangar, Nov 27, 2008 1728 hrs IST
Analysts find this difficult to believe
New technology always brings in change. Audio cassettes were replaced by CDs and DVDs, and now, the physical music format is under siege with new-age digital downloads. While for many companies revenues flow in from the sales of music recordings in the physical format, Atlantic Records has a different tale to tell.
Atlantic, a unit of Warner Music Group, claims that their proceeds from digital music sales have surpassed the sales of CDs. This includes buying music online from services like iTunes or buying ringtones for mobile phones, and satellite radio and other subscription-based services.
While the actual financial data was not revealed, Atlantic said that about 51 percent of the revenue came from digital music sales. Analysts, on the other hand, seem to be surprised, considering the fact that the figures of digital music sales of other competitors are nowhere near overtaking the figures of their CD sales in the near future.
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