Home

Global Online Music Market

Report: 2005 Global Online Music Market Poised to Grow 134% to $1 Billion

Authored by Mark Hefflinger on April 13, 2005 - 10:05am.
Scottsdale, Ariz. -- The rise of legitimate services will help the global online music market to grow 134% this year and surpass $1 billion for the first time, according to a forecast from Arizona-based market research firm In-Stat. A key contributing factor in the rise will be increased competition between services like Apple's iTunes and Napster, as they build larger catalogs and work with labels to offer new features like live concerts and re-mixes. More than half of those surveyed by the firm said they had downloaded free music online; however, overall the average amount spent by respondents in the past year for online music was $25. The survey also found that 35% of respondents owned an MP3 player, with 70% reporting that it was their first such device.
tags: Reports | Grow | Global Online Music Market |