Online Music To Make E1.3Bn By 2007
Posted: 16th May, 2003 By: MarkJ
Forrester Research reports that music downloaded from the Internet (MP3's etc.) will generate just 24M euros in Europe during 2003, yet this is expected to hit 1.3Bn come 2007!:
According to the tech research firm, the dominant revenue stream will flow from individual downloads rather than subscriptions, with growth fuelled by the emergence of more legitimate services and higher broadband penetration.
"Recent announcements from EMI Group and Apple show that after a slow start, major music and technology companies are now taking the future of digital music seriously," said Forrester Research Senior Analyst Rebecca Jennings. "While the US market for legitimate music downloads is already off the starting blocks reaching E13m in 2002 the European market has lagged. This is because official services focused on the US only, and European home broadband penetration has been far slower to take off. But over the next few years, digital music delivery will ramp up."
Once again broadband can be credited with helping to produce a new industry and revenue stream, although some might argue that it also helped to destroy part of it. More @ Europemedia.
According to the tech research firm, the dominant revenue stream will flow from individual downloads rather than subscriptions, with growth fuelled by the emergence of more legitimate services and higher broadband penetration.
"Recent announcements from EMI Group and Apple show that after a slow start, major music and technology companies are now taking the future of digital music seriously," said Forrester Research Senior Analyst Rebecca Jennings. "While the US market for legitimate music downloads is already off the starting blocks reaching E13m in 2002 the European market has lagged. This is because official services focused on the US only, and European home broadband penetration has been far slower to take off. But over the next few years, digital music delivery will ramp up."
Once again broadband can be credited with helping to produce a new industry and revenue stream, although some might argue that it also helped to destroy part of it. More @ Europemedia.
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