The European Digital Music market will generate sales of $4.8 billion in 2014, according to the IE Market Research Institute
In the last decade, the number of players in the digital economy has grown in number, with each one adopting a position on the future of online music while searching for the right business model; this includes Deezer, Spotify, Beezik, Musicme, eMusic, MusicStation, Zune or rdio. In parallel with the increasing number of actors, the number of offers on the market has also increased. For example, Deezer, which was originally based on a free model with advertising, introduced a subscription-based offer in late 2009. Last April, Spotify added two new offers and eliminated the free unlimited version for new customers. According to the New York Post, Apple, for its part, is preparing to launch a music service with a monthly subscription of between $10 and $15.
Even if the business model still requires clarification, the digital music market is growing strongly. In 2009, digital music sales accounted for more than a quarter (27%) of overall music sales according to the IFPI (International Federation of the Phonographic Industry). Europe is slightly behind, however, with the share of digital music representing 15% of all music sales. Nevertheless, the growth prospects in Europe are significant. According to a study published in September 2010 by the IE Market Research institute, digital music revenues are expected to increase at an average annual growth rate of 31.4% between 2009 and 2014, reaching sales of $4.8 billion in Western Europe by 2014.
Please click on the following link for more information:Hi-media Blog IE Market Research Sept 2010 Digital Music Forecast