Steady Download Growth Defies P2P
The value of global music sales via the internet is set to top $6 billion in 2010, according to a new report by Informa Media Group. The report, Music on the Internet (5th edition), estimates that the share of music sales online will rise from 4.6% in 2004 to 15.2% in 2010. The dominance of hard format sales through the internet will finally be broken, although the steady rise of download and subscription revenues will not impact on retail as quickly as some have suggested. Global digital revenues are forecast to exceed $3.1 billion in 2010, equivalent to 7.7% of total music sales.
Successful launches in most major territories have generated great interest, in particular the ongoing success of the global download leader Apple and its iTunes Music Store. While the continued proliferation of P2P makes the prospect of legal downloading reaching its true potential unlikely, the successes of 2004 are even more impressive given that every music release is available for free somewhere on the internet.
Author of the report Simon Dyson said: "This year has been important for the whole of the digital music sector and the momentum created in 2003 has certainly continued all through 2004. Converting the P2P file sharers is still central to the long-term success of the industry. Many millions of music fans still prefer to download for free even though the legal services offer such good value."
Related News from Mi2N:
» Steady Download Growth Defies P2P
follow MusicDish on