Massive change continues in the music biz.

US digital music spending growth has not offset the decline in music CD revenue. Based on new data from the International Federation of the Phonographic Industries (IFPI), the same trend is occurring worldwide.

Digital music revenue grew 40% worldwide in 2007, according to the IFPI's "Digital Music Report 2008." Yet the sharp fall in CD sales meant that total music industry revenue for the year was down.

Worldwide digital music sales were estimated at approximately $2.9 billion in 2007. Music sales via online and mobile channels have risen from zero to an estimated $2.9 billion since 2003.

Single track downloads, including those on digital albums, grew by 53% to 1.7 billion.Digital sales now account for an estimated 15% of the worldwide music market, up from 11% in 2006 and zero in 2003.

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