Jari Ketola
30 Jul 2003 2:51
Despite the increasing popularity of legal music download services, such as iTunes, the online sales won't make up for the losses generated by piracy, according to a study by Jupiter Media.
The research firm estimates online music sales will be $800M this year in the United States. Earlier estimates of $5.1B revenues by 2007 have now been reduced to $3.3B by 2008.
"The industry is suffering from competition for entertainment dollars, changing demographics, the end of the CD upgrade cycle and piracy" said Lee Black, analyst for Jupiter Research.
According to the research, digital sales will account for 7% of the US market this year.
Source:
Guardian