Digital Sales Triple To 6% Of Industry Retail Revenues As Global Music Market Falls 1.9%
Booming demand for music on the internet and mobile phones nearly offset the decline in physical formats as recorded music sales fell 1.9% to a retail value of $US 13.2 billion in the first half of 2005, compared to $US 13.4 billion in the same period of 2004.
IFPI has estimated the retail value of the digital music market in order to be consistent with its reporting of physical sales, and to allow year-on-year comparisons. On that basis, digital music sales in the period amounted to approximately $US 790 million, up from $US 220 million in the first half of 2004. This is the equivalent of 6% of total record industry sales.
On a trade basis, excluding the retail margin, digital sales in the first half of 2005 totalled $US 440 million. This includes sales from a-la-carte download stores, music subscription stores and from mobile music services such as downloads and ringtunes. The figure does not include revenues from monophonic and polyphonic ringtones.
The surge in digital music sales is being driven by the growing uptake of broadband, increasing penetration of 3G mobile phones and portable music players, and a series of successful launches of new music services in different countries over the past year. The digital music market has now overtaken the value of the global singles market.
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