20 April 2006
Music downloads are driving business for one of the world's biggest record companies, latest statistics reveal.
The record company EMI has seen its revenue from digital music downloads grow by 150 per cent in just the last year, which means that digital sales now account for 5.5 per cent of the company's annual revenues.
It is also set to deliver a 12 per cent annual growth in profit.
The company, which has artists such as Gorillaz, The Rolling Stones and Robbie Williams, has also seen its shares grow by 4.5 per cent this morning, according to Reuters.
In contrast another recent survey has suggested that many Internet users still prefer to buy their music on CD.
According to a study conducted by Nielsen/NetRatings, three-quarters of those visiting music sites said they still opted to buy their music in a physical form, such as a CD.
In fact only five per cent said they bought all their music from the Internet.
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