Wednesday, 23 November 2011

7 % Increase

It is expected that global online music revenue is believed to rise by approximately 7% this year, with overall $6.3 billion dollars. As digital music services such as iTunes, Spotify, legal continue to increase this number will only rise faster. As a pure result of this occurring, CD and record sales continue to decline and overall consumer behaviour has shifted. By 2015, it is estimated that online music spending will rise to about $7.7 billion. During this period, spending on CDs as well as other tangible music forms and products is going to fall by about $10-$15 billion dollars. “The music industry was the first media sector to feel the full impact of two major forces — the Internet and technology-empowered consumers,” Gartner analyst Mark McGuire said in a report. The convenience of legal purchasing from digital music stores is one of the major factors that is increasing the digital music industry as CD sales fall simultaneously

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