Search BizReport
News by Topic
Marketing
- Advertising
- Search Marketing
- Email Marketing
- Loyalty Marketing
- Mobile Marketing
- Social Marketing
- Viral Marketing
- Trends & Ideas
- Internet Marketing 101
Beyond Marketing
BizReport : Research archives : February 27, 2008
Forrester foresees future of music
Could the end of music as we know it be nigh? Forrester Research thinks so.
In a portentously titled report, “The End of Music as We Know It”, Forrester Research predicts that digital music sales will surpass CD sales in 2012.
Forrester’s figures put CD sales sliding to $3.8 billion after five years and digital sales growing almost a quarter (23%) every year within the same period reaching $4.8 billion in 2012.
Another area of growth in the music industry will be subscription services, where Internet users pay set amounts to access and download music. Forrester predicts subscription services will reach $459 million in revenues by 2012.
"The industry has to redefine what its product is," said Forrester Research VP and principal analyst James L. McQuivey, via Billboard. "Music executives have spent years tracking CD sales, but the artist is the product -- not just the source of it. New forms of revenue will come from unexpected sources.”
Tags: CD sales, music downloads, online sales, subscription services
Tweet
Subscribe to BizReport
Please enter your e-mail here:
Latest Headlines
- How to update programmatic strategy for 2021
- Top 3 tips for email success in 2021
- Report: Streaming services push media spending surge
- Experts predict life in 2025 will be more tech driven
- Look for virtual events, social commerce to stick post-pandemic
- Studies ID risks, impact of remote work
- What are the differences between social media platforms?
- Expert: How Covid-19 will impact merchants in 2021