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Life in the digital age has brought both good and bad things with it. But music being the soul of a human being has never changed, it’s business has after the advent.

In a recent report, MP3s have outdone CDs, cassette tapes and vinyl as the fastest selling format of all time following an announcement by Atlantic Records, part of the Warner Music Group.

The company said it made more money with digital downloads(51% of revenue) and subscriptions than  it did collectively from CD’s, DVD’s and records from services such as iTunes.

It was really important to educate artists about how we had to change the thinking on the release cycle and the type of products we were releasing. Some fans only want to buy the physical disc, some only want to buy a ringtone and a T-shirt, others just want a concert ticket, others want to buy a digital album. Everybody wants something different now … we need to offer them whatever they want, whenever they want. Said Craig Kallman, Chief Executive of Atlantic Records