As Consumers Continue to Take Legal Route, Online Music Market to Experience Healthy Growth
SCOTTSDALE, Ariz., March 15, 2006 - Healthy growth in the online music market will continue for the rest of the decade, with worldwide sales growing from $1.5 million in 2005 to $10.7 million in 2010, reports In-Stat (http://www.in-stat.com). Additionally, In-Stat expects that revenue from downloaded music will outpace revenue from physical media bought online by 2007. This is evidence that the Internet is now a key distribution channel for legitimate digital music sales; and the mobile phone is also evolving into an important channel for digital music, the high-tech market research firm says.
“Consumers are clearly opting for legal ways to purchase music, and more legitimate music sites are available,” says Stephanie Guza, In-Stat analyst. “But vendors still face significant obstacles including Internet piracy, interoperability concerns, and the unlicensed use of digital streams.”
A recent report by In-Stat that included a consumer survey found the following:
* Nearly half of the survey respondents admitted to downloading music from the Internet; and 64% of these respondents have paid for the music.
* The largest percentage of respondents who have purchased music online spent between $10 and $20 in the last 12 months.
* The most popular site used was iTunes, with 53% of music purchasers having used the site.
Recent In-Stat research, The Online Music Market: Downloaded Music Will Outpace Physical Media Bought Online in 2007 (#IN0602972CM), covers the growth of the online music market. It includes worldwide revenue forecasts for music downloads and physical media bought online. An important addition to this report is a worldwide revenue forecast for full-length songs downloaded to mobile phones. Mobile music represents competition for both traditional CD sales, as well as digital singles and albums downloaded to a PC or portable audio player. Therefore, we can no longer exclude this growing opportunity when discussing the online music market. Finally, the results of an In-Stat consumer survey on online music buying and listening habits are also presented.
To purchase this research, or for more information, please contact Erin McKeighan at 480-609-4551; email@example.com. The price is $2,995 U.S. Dollars.
MORE INFORMATION ON THIS RESEARCH
* Title: The Online Music Market: Downloaded Music Will Outpace Physical Media Bought Online in 2007
* Service: Consumer Media & Content
* Product Number: IN0602972CM
* Publication Date: March 2006
* Number of Pages: 42
* Price: $2,995 U.S. Dollars
* Abstract, Table of Contents, Figures & Tables
* Members Only Access: Full text HTML , PDF
Market Research from In-Stat
In-Stat offers a broad range of information resources and analytical assets to technology vendors, service providers, technology professionals, and market specialists worldwide. The company stands alone in its ability to integrate both supply-side and demand-side research methodologies into a single comprehensive view of technology markets and products. This capability relies on a unique ability to cover the entire value chain from engineering-level technology, through equipment, infrastructure, services and end-users.
In-Stat is a strategic segment of the $8 billion Reed Elsevier global information network, with access to an expansive worldwide electronic network, extensive technology databases and well-informed personnel. In-Stat analysts gain exceptional insight into geographic market places and specific technologies within markets such as electronics, cable and wireless. As a member of Reed Business Information, In-Stat is a division of the largest business-to-business publisher in the U.S.
- Contact Information
- Stephanie Guza
- Industry Analyst
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