Andre Yoskowitz
13 Oct 2007 18:17
According to a Verdict Research report entitled "UK Music and Video Retailers 2007", legal digital downloads of both video and music rose 81 percent in the UK to 112 million pounds.
The report also predicted the market would grow to 163 million pounds by the end of the year and 600 million pounds by 2012. 600 million pounds would equate to 13.5 percent of the total music and video market.
"The percentage figures may fall some years, but the cash growth through the tills is big," said Mick Gladding, lead analyst at Verdict.
"It is a very exciting market, probably the most important influence in video and market retailing because it provides a very attractive method for customers.
"It is highly convenient to shop from home and is a low-cost way of delivering music to the customer from the retailers' point of view."
With new players like Amazon and Nokia joining the market, and the ever increasing DRM-free content, Verdict Research sees an added boost to the market coming, especially as the UK and the world move to be completely digital.
Source:
Yahoo