Mobile Phone Apps to Outsell CDs by 2012: Report

Mobile Phone Apps to Outsell CDs by 2012: Report
For those looking for even more proof of how fast technology is overtaking the music industry, consider a new study on the sales of mobile phone apps. According to Chetan Sharma Consulting, who did a study on behalf of mobile application download service GetJar, mobile phone apps will outsell CDs by 2012.

The independent study (albeit done for a mobile apps company) claims that app downloads will go up from their current annual mark of seven billion to nearly 50 billion downloads per year by 2012, with revenues of over $17.5 billion. CDs currently bring in over $10 billion a year, but whose to say where those numbers will be by 2012?

"With the consumer appetite for mobile apps rocketing, the opportunities for developers are huge," GetJat CEO Ilja Laurs told Digital Media Wire.

The number of phone app stores also increased last year, to 38 stores from only eight the previous year.