Digital Music Market to Reach $14.9 billion by 2010, iSuppli

The global market for digital recorded music, delivered via broadband and over mobile phones, is expected to grow nearly 600% from $$2.7 billion in 2005 to reach $14.9 billion by 2010, according to iSuppli research. This amounts to a compound annual growth rate (CAGR) of a very impressive 40.7%.

Mobile music has been driven by the popularity of ringtones and ringtunes, and is now migrating to full-track music downloads. The broadband music market has been led by iTunes music store. The overall broadband music subscription services grew to about 2.5 million subscribers at the end of 2005.

As the digital music market explodes, the physical distributed music (music CDs) will decline from $27.3 billion in 2005 to $$19.6 billion by 2010. 

Digital music accounted for some 12% of the $33 billion recorded music market in 2006 and is expected to take a commanding 40% share of the industry by 2010.

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