Los Angeles – The number of paid digital music users is
expected to almost double over the next five years, from 832 million now to
1.555 billion in 2014, according to a report from IE Market Research.
Digital
music retail revenues are predicted to hit $32.5 billion in 2014, rising at a
compound annual growth rate of 37.1% from $7.8 billion in 2009.
The firm
forecasts that the number of paid digital music users in North America will
grow from 105.4 million now to 227.2 million in 2014, when digital music retail
revenues for the territory will reach $11.86 billion.
IE Market Research
expects "the greatest growth in the global digital music industry will
happen through subscriptions to both online and mobile music channels."
The number of users downloading music via mobile phones worldwide is projected
to grow from 507 million in 2009 to over 1 billion in 2013; in North America,
mobile music downloaders are expected to grow in number from 51.9 million in
2009 to 83.1 million in 2014.
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