New distribution channels for online music and video are beginning to have a significant impact on the music and video industries, according to a new report from In-Stat.
Online sales of digital music represented 6% of the total worldwide music market in 2006, up from 4% in 2005, the high-tech market research firm says. By 2011, online sales of digital music will represent 26% of all music purchased worldwide.
Stephanie Ethier, In-Stat analyst, said: “The internet is now an essential channel for online music distribution; and social networking sites, such as YouTube and MySpace, are beginning to show great potential as new and legitimate channels for digital content consumption. As a result, consumers are demanding access to digital content in more ways than ever.”
In-Stat’s latest primary research shows that 74% of respondents (primarily North Americans) downloaded music in 2006, up significantly from 48% in 2005.
It added that it believes that the growth in mobile music will have important implications for the online music market.
A recent report from eMaarketer said that although there are more females online than males, they are less likely to view online video than males are (see Females Less Likely To View Online Video).
Meanwhile, the recent MediaTel Group seminar on the future of digital examined the social networking phenomenon, and its implications for the media industry (see Seminar Examines Social Networking Phenomenon).
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