Boston - The global online music market is predicted to grow 62% this year, to $2.7 billion, and will reach over $6.6 billion in 2011, according to a report from market research firm Strategy Analytics.

The report also forecasts that, while the U.S. represented almost three-quarters of the global online music market in 2006, its share will be reduced to less than half by 2011.

"The recent move by EMI and Apple to drop DRM from premium tracks will produce a temperate increase in single track download revenues in the short to mediums term," said Strategy Analytics' Martin Olausson.

"However, long term revenue growth will come from hybrid subscription based services."

"The music labels are finally starting to see digital sales having a positive impact on the bottom line," added Strategy Analytics vice president and principal analyst David Mercer.

"This year will likely be the turning point for the music industry, and a return to overall revenue growth."

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