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World online music sales up 7% in 2011

November 9, 2011

Global online music revenues are expected to rise by about 7% this year to $6.3 billion as services such as Spotify and iTunes continue to grow, according to technology research firm Gartner.

They also say that sales of CDs will continue to decline faster than can be made up for by digital sales, as the music industry struggles to adapt to music buyers’ changing behaviour.

At last someone is acknowledging that the digital side of the music industry is doing alright and also that the decline in sales of physical products is because of a changing world, not because of ‘piracy’ as incompetent and reactionary record industry bosses like to claim.

‘The music industry was the first media sector to feel the full impact of two major forces — the Internet and technology-empowered consumers. It has staggered through the first decade of the 21st century and entered the second bedraggled financially and facing a powerful set of intermediaries, which are creating borderless global ecosystems that defy the industry’s previous notions of control and monetization.’ Gartner analyst Mark McGuire

Whatever that means.

Gartner expects subscription services to be worth $2.2 billion by 2015, 29% of all online music spending.

Gartner report

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