Atlantic Records issued a press release today stating that 51% of its revenue now comes from digital products. This is a bit deceiving in that it leads you to believe that the revenue is just from downloads, but digital products is made up of ringtones and licensing to satellite radio and games, among other things.
The fact of the matter is that the idea that digital downloads is going to offset the diminished CD sales is sadly mistaken. Revenues continue to fall and will probably continue to do so until a new mindset overtakes the industry, either in the existing labels or with new players entirely.
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