Digital Music Industry Set To Double By 2015
August 1, 2011 at 8:46 AM (PT)
It is anticipated that global digital music revenues will more than double from $7.4 billion in 2010 to 20.1 billion by 2015, growing at a Compound Annual Growth Rate of 22.1% over the period. Subscriptions will be the fastest growing segment, growing at CAGR of 60.8% to 2015.
In terms of digital music market value, the U.S., JAPAN, U.K., FRANCE and GERMANY are the key digital music markets, together accounting for 79.5% of the global market in 2010. INDIA, CHINA, and MEXICO are the upcoming digital music markets, which present strong growth potential.
Globally, ISPs are entering the battle against music piracy, primarily driven by the collective efforts of music companies and local government’s support. In 2010, FRANCE, IRELAND and SOUTH KOREA took steps to curtail music piracy, while others including the U.K., NEW ZEALAND and MALAYSIA are aiming to do so in 2011.