Study: Global Digital Music Revenues To Almost Triple By 2015
Global digital music revenues will more than double from $7.4 billion in 2010 to 20.1 billion by 2015, according to the new Digital Music Market Outlook by Companies And Markets. That's a compound annual growth rate of 22.1% over the period. Subscriptions will be the fastest growing segment, growing at a 60.8% CAGR 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.
Globally, ISPs entering the battle against music piracy factors into the rosy outlook. In 2010, France, Ireland and South Korea took steps to curtail music piracy, while others including the UK, New Zealand and Malaysia are promising to do so this year.
Straight from the digital horse’s mouth. Let’s go raise some capital!
It’s still big capitalism setting the prices, though. We’d love to release our music very cheaply indeed to the customer but the retail prices are preset for all the vendors that Tunecore services. It’s why we also use Bandcamp – we have more scope there for being creative with pricing and mixing free and charged-for downloads.
Wondering if these numbers include older catalog and vintage music as well as classical music?
How are these figures split up between payments by advertisers and payments by consumers?
Um, what about the loss of non-digital forms of sales? Was the music industry actually earning more before online sales?