Dave Horvath
24 Aug 2006 6:37
A recent report issued by Screen Digest suggested that record labels should be warned against blaming piracy as the sole reason for suffering sales in the CD market. This study, administered in Europe, showed that there is a significant increase in Europeans who own a portable music player. With this incline of hardware, consumers are less focused on the purchase of CDs and more focused on services such as iTunes and Napster.
In 2006, online music purchases in Europe alone has reached 280m euros (£189m, $359m) and is expected to become a 1.1b euro (£744m, $1.1b) market by 2010.
Instead of focusing efforts on CD music markets, the record labels need to figure out a new and better way to deliver music to the consumers. With the rise of the online markets, its expected for the physical music market to continue to decline.
Source:
BBC