Study Predicts Big Growth In Digital Music By 2014

image from theiowarepublican.com IE Market Research's Global Digital Music Forecast for online, mobile, and subscription channels predicts that retail revenues will increase to $32.5 billion by the end of 2014.The forecast sees most of the growth coming via music subscriptions both online and mobile.

Other key findings:

  • There are now 832 million paid users of digital music worldwide and that number is expected to almost double to 1.555 billion in 2014.
  • While the number of music users downloading their music through their mobile handsets will increase from 507 million in 2009 to over 1 billion in 2013, the greatest growth in the global digital music industry will happen through subscriptions to both online and mobile music channels
  • Digital Music revenues at record companies will increse from a current $4.82 billions to $21.3 billion at the end of 2014   

North America

  • There are now 105.4 million paid users of digital music in North America and that number is expected to grow to 227.2 million in 2014
  • Online music download users in North America will increase dramatically from 50.4 million in 2009 to 135.0 million in 2014
  • Digital music retail revenues in North America to reach $11.86 billion in 2014

For more detail and other territories, you can read the execitive summary here.

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  1. It should be interesting to see if lowering Digital tunes will impact this prediction. In other words, $0.25 per song and about $5.99 for a full album on iTunes.

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