According to a new forecast issued by digital media research firm eMarketer,online and mobile platforms will account for about 40 percent of total music spending in 2009. Citing plummeting sales of traditional physical formats as well as recent developments like Vodafone and MySpace’s Vodafone Music Reporter venture, eMarketer argues that music fans are seeking digital music communities that deliver a more unique, interactive experience by bringing together online, mobile and user-generated platforms like blogs.
According to the report, mobile–which accounted for $1.7 billion of 2007’s $29.2 billion worldwide music spending–will increase to $3.0 billion in 2008, $4.8 billion in 2009 and $6.2 billion in 2010, even as physical formats and total music spending continues to drop year-over-year. eMarketer anticipates that online and mobile will together combine for $14.8 billion in 2011, overtaking physical music media to account for 56.5 percent of all music spending.
Source: EMarketer
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It would be great if we could get similar figures for India.
Also, the Total market of Music Spent seems to be degrowing… why is this?