Music industry’s future features digital sales, but not CDs, report says
Digital music sales in the U.S. will grow from $2.8 billion this year to $5.7 billion in 2011, with worldwide sales growing from $4.5 billion to $14.8 billion in the same period, says a new report from research company eMarketer.
EMarketer estimates that sales of CDs, which account for 55% of the industry`s total revenue today, will continue to decline sharply, falling to 29% of the overall business by 2011.
Meanwhile, total music industry sales—recorded music, live music and music licensing—will reach $67.6 billion by 2011, up from the 2006 total of $60.7 billion," says Paul Verna, eMarketer senior editor and author of the new Global Music: Tuning into New Opportunities report. "Over that period the industry will grow at an average annual rate of 2.19%."
Growth will come predominantly from online and mobile music, live concerts and the licensing of music for public performances, commercials, TV shows, films and video games, eMarketer says.
Back...
