Universal Music Group nearing its digital tipping point

From Paid Content:

For the world’s biggest music label, the days of revenue decline are over — and soon, it will be surviving mostly on digital money.

Universal Music Group, home to Lady Gaga and U2, on Tuesday reported that revenue for the last nine months had risen 2.1 percent over the last year.

Sales from CDs dipped again by 14.2 percent to €1.02 billion ($1.29 billion) while digital grew another 8.6 percent to €916 million ($1.16 billion) — poised to overtake physical sales soon.

UMG is not the first label to reach this tipping point. Warner Music Group has seen the same pattern as digital music sales grow and CD sales shrink ever more.

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