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When music fans will pay for sounds
Ever since Napster went legit and iTunes rocked the online music world, many music retailers and those who sell music-related merchandise have wondered where the market is heading. According to a new report by eMarketer Inc., Online Music: Downloads, Streaming, Radio, Mobile, music downloading is in its infancy. Only a small portion of the population has downloaded music so far, although the reasons consumers give for downloading now when they had not before bode well for industry growth: got broadband Internet access, bought a better computer, bought a digital music player, all technology trends with strong growth ahead. "2004 marks the year that a genuine online music sector emerged," eMarketer senior analyst Ben Macklin concludes. EMarketer pulled together stats from a number of sources. Here are a few from the 16-page report: