Digital music sales overtake CDs for first time

Revenue from digital music downloads and subscriptions exceeded those from CDs for the first time in 2014, holding overall sales steady at about $15 billion, according to the International Federation of the Phonographic Industry.

Dow Jones Newswires reports sales of CDs and other physical formats declined 8 percen to $6.82 billion last year, while digital revenue grew nearly 7 percent to $6.85 billion.

Online services that let users listen to music either for free, with ads, or for a monthly fee - such as Spotify and Pandora - both grew 39 percent from 2013.

Read more from Dow Jones Newswires.