Jari Ketola
22 Nov 2003 15:21
A study named The Global Music Industry from Informa Media Group predicts that music industry revenues will keep dropping for a year before picking up and reaching $32bn by the year 2008.
A somewhat surprising assessment in the study is that the now promising online music sales will not be the driving force behind the growth. The growth will be based on better copy protection schemes and getting a handle on online file-sharing piracy.
Informa does believe that online music sales will grow, but it estimates that by 2008 only 5.7 per cent of all music sales will consist of digital sales. Online sales in total would represent a total of 12 per cent.
"The music industry is in a bad way at the moment but the continued fall in the value of music sales is certainly not irreversible. The success of the new download services proves there is a viable market for legitimate digital sales, but the music companies must act decisively to stop the growth of the illegal services and the widespread copying of CDs," author of the report, Simon Dyson, said in a statement.
Source:
silicon.com