Digital Music Sales To Triple In 4 Years To $20.1 Billion [REPORT]
The digital music industry is set to double from $7.4 billion to $20.1 billion in 2015, according to a new study. That's a compound annual growth rate of 22.1% over the period. Subscriptions will be the fastest growing segment, growing at a compound annual rate of 60.8% to 2015.
In terms of digital music market value, the US, Japan, UK, France and Germany are the key digital music markets, together accounting for 79.5% of the global market in 2010. India, China, and Mexico are the upcoming digital music markets, which present strong growth potential, according to the report.
On fact driving the growth, according to the study, it that globally, ISPs are entering the battle against music piracy, primarily driven by the collective efforts of music companies and local governments. In 2010, France, Ireland and South Korea took steps to curtail music piracy, while others including the UK, New Zealand and Malaysia are aiming to do so in 2011.
I wonder how much of that 20 billion will be going to artists?
Seeing how total record sales have fallen from $14 billion to $7 billion in the last decade, I’ll believe it when I see it.
Yawn…same old cynical answer.
Everyone involved(particularly artists) will benefit as there are more opportunities to get your music heard through new mediums. This will enable artists to continue their careers as it will be more commercially viable for them to do so and enable labels to sign new artists funded by the increase in business. It’s a tough business, labels are not charities and, comapred to other (non-pirateable commodities) is incredible value for money.
Hmmm I can see where they are going…
I think that sells will be more so tied to the selling of the overall “experience” not just digital music sells alone.
They fail to explain how come fighting piracy will drive people to buy more music…