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Wednesday, November 19, 2003

music industry recovery in 2005

this reuters report (via abc) has a line i just wanted to put “on the record”

According to London-based research firm Informa Media Group, the retail value of global music sales will drop to $28.2 billion this year from $30.9 billion in 2002 and to $28 billion in 2004 before returning to growth in 2005 as new Internet music services take off.

update: since this was such an interesting statistic, i decided to go looking for an original source. i found this from a this from a november 2002 report by the same research company:

Global music forecasts (in millions) (source)

format

2002

2003

2004

2005

2006

2007

Total
Albums

2, 869.9

2,842.1

2,848.0

2,922.9

3,008.3

3,123.5

* CD

2,254.9

2,215.3

2,218.3

2,297.7

2,379.0

2,493.7

* MC

606.1

618.3

621.8

618.3

623.4

625.0

* LP

8.9

8.5

7.9

6.9

5.9

4.8

Singles

266.9

229.4

205.8

185.9

169.1

151.8

Total Value

$31,135.8

$30,227.9

$29,949.1

$30,544.1

$31,342.7

$32,460.5

so, that’s interesting reading, but then they say this:

Digital music sales will increase in the years to 2007 but will remain a niche sector. By 2007, digital sales will account for an estimated 1.2% of the global total

hmmmm.

posted by roj at 8:52 pm