music industry recovery in 2005
this reuters report (via abc) has a line i just wanted to put “on the record”
According to London-based research firm Informa Media Group, the retail value of global music sales will drop to $28.2 billion this year from $30.9 billion in 2002 and to $28 billion in 2004 before returning to growth in 2005 as new Internet music services take off.
update: since this was such an interesting statistic, i decided to go looking for an original source. i found this from a this from a november 2002 report by the same research company:
Global music forecasts (in millions) (source)
| format | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | |
|---|---|---|---|---|---|---|---|
| Total Albums | 2, 869.9 | 2,842.1 | 2,848.0 | 2,922.9 | 3,008.3 | 3,123.5 | |
| * CD | 2,254.9 | 2,215.3 | 2,218.3 | 2,297.7 | 2,379.0 | 2,493.7 | |
| * MC | 606.1 | 618.3 | 621.8 | 618.3 | 623.4 | 625.0 | |
| * LP | 8.9 | 8.5 | 7.9 | 6.9 | 5.9 | 4.8 | |
| Singles | 266.9 | 229.4 | 205.8 | 185.9 | 169.1 | 151.8 | |
| Total Value | $31,135.8 | $30,227.9 | $29,949.1 | $30,544.1 | $31,342.7 | $32,460.5 |
so, that’s interesting reading, but then they say this:
Digital music sales will increase in the years to 2007 but will remain a niche sector. By 2007, digital sales will account for an estimated 1.2% of the global total
hmmmm.