IEMR Forecast Says 1 Billion Will Be Downloading Music By 2014
November 11, 2010 at 6:22 AM (PT)
IE MARKET RESEARCH CORP. (IEMR), the CANADIAN-based provider of market intelligence services, has released its "Global Digital Music Forecast" for online, mobile and subscription channels, 2010-2014.
"Digital music downloads are becoming more popular, and we expect a significant increase in digital music spending over the next five years. IEMR forecasts that the total number of paid users of digital music worldwide will increase from 832.5 million in 2010 to 1.55 billion in 2014, for CAGR of 16.9%," said VP/Research NIZAR ASSANIE. "The majority of these paid users will be downloading digital music files to their mobile handsets. We forecast that mobile download users will increase from 578 million in 2010 to 1 billion in 2014, for a CAGR [Compound Annual Growth Rate] of 15.0%."
At the same time, IEMR also notes that online channels will see higher growth in users than the mobile channels over the next several years. IEMR is estimating that the online single downloads of digital music will increase from 241.5 million in 2010 to 511.5 million in 2014, for a CAGR of 20.6%.