1/28/11

Musicnotes trumpets 25% digital sheet music growth

The online sheet music retailer expects total 2010 sales of $12.5 million.

Bill Briggs , Senior Editor

Musicnotes Inc., an online retailer of downloadable sheet music, rode the combination of new content and technology to new sales heights in 2010. While the numbers aren’t complete yet, the company expects to log total sales of about $12.5 million for 2010, a 15.7% increase from $10.8 million in 2009, says Tim Reiland, chairman of Musicnotes Inc., No. 496 in the Internet Retailer Top 500 Guide.

“Musicnotes added great content in 2010–both new song releases as well as back catalog–and made marked improvements to the customer shopping experience, resulting in a solid increase in our conversion rate,” Reiland says. “We are expecting further conversion gains in 2011 as we introduce significant site enhancements currently in development.” Reiland did not divulge conversion figures but notes that digital sheet music sales were up by 25%.

The company continues to streamline the software it uses to download sheet music to customers. “We made some gains in 2010 and a lot of our focus is to make the site friendlier to customers, especially new customers,” Reiland says.

For 2010, Musicnotes reports:

In addition to the renewed popularity of the Cohen song, other sales drivers from the Musicnotes back catalog include songs from the TV program Glee. “‘Don’t Stop Believing,’ by Journey, was brought back by Glee,” Reiland says. “The show has been huge for our business.”

Musicnotes also added songs from the Universal Music Group publishing catalog through a deal signed in 2010. The deal included new and back catalog music from a publisher that Reiland says had been a “bit of a hole in our line-up.”

Reiland expects more of the same success for 2011. “We have been very fortunate and I feel we can keep up our growth for the foreseeable future. 2011 has started a bit stronger than 2010 finished,” he says.

Topics:

2010 earnings, 2010 financials, digital sheet music, Musicnotes, Musicnotes Inc., Musicnotes.com, Tim Reiland, Top 500, Top 500 retailers

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