The Global Recorded Music Market Forecast report from Strategy Analytics claims consumer spending on CDs will drop from $3.8bn (?2.35bn) in 2010 to $2.7bn (?1.67bn) in 2012.

Against this, it projects digital revenues will grow to $2.8bn (?1.73bn) next year.

The digital business will be dominated by single-track sales until 2015 according to the report. It forecasts individual track sales will account for 29% of the market then while digital albums will make up 32%. Alongside this, subscription-based services will ...