According to a new report from Forrester Research, digital music sales currently account for just over 18 percent of the US music market but that figure should grow exponentially to about 41 percent by 2013.
The report, "U.S. Music Forecast, 2008 to 2013" also expects that 55 percent of US online consumers will pay to download at least one track in 2013.
Forrester did say however that digital music growth will not compensate for the steep decline in CD sales and that the total market will shrink to under $10 billion USD in 5 years. At its peak, in 1999, the market totaled $14 billion.
Perhaps more notably, the report found that digital music consumers are moving as much as 60 percent of their music budgets to digital and away from CDs and other physical media.
Forrester did say however that digital music growth will not compensate for the steep decline in CD sales and that the total market will shrink to under $10 billion USD in 5 years. At its peak, in 1999, the market totaled $14 billion.
Perhaps more notably, the report found that digital music consumers are moving as much as 60 percent of their music budgets to digital and away from CDs and other physical media.
