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The Digital Music Market Outlook: Evolving Business Models, Key Players, New Challenges and the Future Outlook
Business Insights, June 2009, Pages: 132
The increasing adoption of broadband and mobile technologies and the widespread adoption of smartphones and portable music playing devices continue to drive the digital music market. The music industry landscape is undergoing major structural changes as companies from other industries become integrated into music distribution, and business models transform to adapt to changing market demands. Piracy remains a major concern in the industry, with losses from ilegal downloads running into billions of dollars.
‘The Digital Music Market Outlook: Evolving business models, key players, new challenges and the future outlook’ is a report published by Business Insights that analyzes the growth of the digital music market and recent transformations to the industry structure and business models. The report examines the growth drivers and inhibitors of the market, emerging geographies, industry challenges and the future market outlook. It also provides detailed profiles of the leading digital music service providers including an examination of their operations, service offerings, financials and strategic outlook.
Key Findings
The global digital music market will grow from $4.81bn in 2009 to $13.74bn by 2013, representing a CAGR of 30%.
The industry is characterized by rapidly changing structure and an evolving value chain. New players are entering the market for digital music distribution and rapidly expanding their revenue streams to match consumer demands. Various partnerships and tie-ups are emerging between players across the value chain.
Music piracy remains the most critical challenge that the industry is faced with. Another major issue is that of interoperability across various digital music services and devices, which is being dealt with by shifting towards DRM-free music downloads.
The global digital music market has significant growth potential. The relatively more developed markets include the US, Japan and western European countries such as the UK, France and Germany. Emerging markets that present enormous potential include China, India and Brazil.
Use this report to...
- Understand the global digital music market with this report’s study of the market in terms of product innovation and evolving market structure.
- Analyze the growth trends in the market to predict key areas of opportunity including market structure, dynamics and trends in the developed markets (US, Japan, UK, France and Germany) and emerging markets (China, India and Brazil).
- Examine the challenges facing the global digital music market with this report’s study of the evolving business models and the major transformations taking place in the market abd their impact on leading companies.
- Benchmark your performance against leading digital music service providers by using the company overviews of key players in the industry, including their services, operational and financial performance indicators and strategy provided in this report.
Explore issues including...
New players entering the market: As the industry envolves new players are entering the market for digital music distribution. Increasing competition is prompting the companies to respond to the changing customer demands and differentiate their services to retain their customers.
Changing market dynamics: The availability of free music on the internet has prompted companies to adapt their business models as per the changing market dynamics. Ad-supported sites and social community websites are gaining more prominence in the industry.
The growth of piracy: Piracy is a major problem for the global digital music industry. The number of illegal downloads has increased from 20bn in 2005 to 40bn in 2008, corresponding to 95% of the total music downloaded in that year.
Lack of interoperability: The inability to inter-operate between various digital music services and devices has been a major issue hindering the growth of the industry. Record labels have taken a significant step towards resolving this issue by offering DRM-free tracks that can play across different platforms and devices.
Discover..
- What are the current trends in the digital music industry?
- Which regions are more developed markets and which are the emerging areas presenting potential growth opportunities?
- What is the industry structure and how is it changing as the pattern of music consumption is changing?
- How are the industry players responding to recent changes in the market?
- What are the key challenges facing the industry and how are they being dealt with?
- Who are the leading players in the market?
- How do the leading companies compare in terms of their market share, operational and financial performance, service offerings and strategy?
- How is the industry expected to evolve and what is the future outlook?
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