09 May 2007

Swan Song for Music Industry?

eMarketer.com - The Music Industry Enters Uncharted Territory
eMarketer estimates that the worldwide market for recorded music, live music and music licensing will reach $67.6 billion by 2011, up from the 2006 total of $60.7 billion," says Paul Verna, eMarketer Senior Editor and author of the new Global Music: Tuning into New Opportunities report. "Over that period the industry will grow at an average annual rate of 2.19%."
The million dollar question is: Will the digital segment sales compensate for the losses in physical sales of CDs? No, according to this article. Any new growth will come from online and mobile music, live concerts, and licensing of music for use in commercials, TV shows, films and video games.

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4 comments:

Lisa said...

I really believe the music industry, as it has been in the past, is on its way out. The internet and digital music is going to change everything.

Dave said...

I totally agree with this. When was the last time you bought a CD? When was the last time you downloaded a song? Yep for most people they barely buy CD's anymore.

CyberCelt said...

@lisa-they will be licensing our brains next.

@dave-I still have albums and cassette tapes and some CDs. If the music industry is counting on me--good luck to them.

Ocean said...

I agree with lisa as well, internet has damaged the licensing, ever since i got internet i stopped buying CDs...

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