The Global Transition To Digital Music

According to data from IHS Screen Digest, South Korea is transitioning from the physical music market to the digital one faster than any other country, with 56% of consumer spending on music occurring through digital services in 2012. The United States and United Kingdom are close behind with a 52% and 45% digital share of total spending on music, respectively. However, based on current trends, the US is expected to take top spot by 2016 followed by the UK.

Meanwhile, a separate survey from the British Phonographic Industry reveals that almost 20% of consumers preferred to buy all their music in digital form. Last year also saw 27.7% of UK music fans purchasing downloads from stores such as iTunes or Amazon; or streamed songs from services like Spotify or YouTube.

Source: IHS Screen Digest