Study: Global Digital Music Revenues To Almost Triple By 2015
Global digital music revenues will more than double from $7.4 billion in 2010 to 20.1 billion by 2015, according to the new Digital Music Market Outlook by Companies And Markets. That's a compound annual growth rate of 22.1% over the period. Subscriptions will be the fastest growing segment, growing at a 60.8% CAGR to 2015.
In terms of digital music market value, the US, Japan, UK, 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 entering the battle against music piracy factors into the rosy outlook. In 2010, France, Ireland and South Korea took steps to curtail music piracy, while others including the UK, New Zealand and Malaysia are promising to do so this year.