Despite the digital revolution, that little plastic disc is not going to go away...
The CD will remain the most popular music format till the end of the decade, according to a new survey.
The report also states that Europe will buy over £570m worth of digital downloads in 2009, but technology consultants Jupiter Research say this will only account for 8% of the music buying market.
The survey also says that the UK will be the biggest buyers of online music by 2010, accounting for over 30% of the market.
Jupiter analyst Mark Mulligan said: “Although Europe’s digital music market has finally begun to take off after a sluggish start, it will remain a relatively niche market.”
“Digital music distribution will be an important alternative revenue channel for the music industry, but it is not about to replace the CD,” he added.
Apple’s iTunes currently dominates the saturated digital music download market, but since the legal launch of Napster and other sites, competition has become much more fierce.
The survey also predicts that the biggest catalyst for growth over the next five years will be the sale of digital music players, namely Apple’s iPod and the new Sony hard-disk Walkman, reports the BBC.