January 22, 2006

The state of online music business

Filed under: News — Svato @ 12:57 pm

As Herald Tribune reports, music business has little to sing about, although the online music sales last year nearly tripled to $1.1 billion, which is robust 6% of all industry’s sales. Only 2 years ago this figure was just 1%. Where is the problem then? The fact is that total music sales are down by 20% (or $33.6 billion in 2004 compared to $39.7 billion in 2000) from five years ago. The number subscribers of online music websites like Rhapsody and Napster grew from 1.5 million to 2.8 million.

Yet, Britain’s traditional retailer HMV ended up with a loss in December and threw out its chief executive. Rio, a portable players manufacturer, went out of business. A music pirates party has been formed in Sweden. Read the full story…

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