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Consumers to spend billions on online music, says Strategy Analytics

Telecomworldwire, Oct 27, 2005

TELECOMWORLDWIRE-27 October 2005-Consumers to spend billions on online music, says Strategy Analytics(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com

According to a new report from research and consulting firm Strategy Analytics broadband households in Europe and North America will spend billions of dollars to download music from sources like Apple Computer's iTunes Music Store in the coming years.

According to the company's research, over a billion dollars will be spent by broadband users in these regions on online music this year alone, with sales expected to reach USD4.5bn by 2010. This figure will represent nearly 16% of total recorded music sales, up from less than 2% in 2004, the research firm said.

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The company predicts that by 2010 over 60% of online music revenues will come from subscription-based services, with growth being driven by increased sales of MP3 players and music-enabled mobiles.

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COPYRIGHT 2005 Ingram Investment Ltd.
COPYRIGHT 2005 Gale Group
 

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