Constant Growth for Movies, TV and Music Downloads
The majority of all digital content will be distributed over the Internet in the near future, and while that process is well under way in the music business, 2007 will see the TV and movie industries get much more aggressive bring their properties to the internet. Forecasts show that US consumer spending on digital music, movies and TV, which was $1.3 billion in 2005, will approach $7.8 billion in 2010,
according to a report done by eMarketer.In 2006, iTunes successfully expanded its product line to include TV and movie downloads, and with Amazon and AOL opening their own digital download stores, the paid content market is set to rapidly grow. While a growing amount of Internet users are paying for digital content, that number still represents only a small fraction of the Internet users who regularly view or listen to online multimedia content.In addition to the billions of dollars that will be spent by consumers in the coming years on digital music, TV and movies, rich media advertising will also expand rapidly over the forecast period. According to recent data from the International Federation of the Phonographic Industry (IFPI), 11% of recorded music sales in mid-2006 were digital downloads or subscriptions (including mobile music), up from 5.5% at the end of 2005 — double the rate in only six months.
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