Online music spending tipped to rise
Online music spending tipped to rise
(Mon, 7th July 2008)
Music fans are expected to spend more on online and mobile music formats in the future, as physical music spending sales decline, new research predicts.
Digital marketing and media analyser eMarketer has said the online and mobile industries may take up to 40 per cent of the total music market next year.
The eMarketer report, Recorded Music: Digital Music Falls Short, said fans are demanding online communities offering "a unique music experience" and involvement in music events.
Interaction through blogs and other online, mobile and user-generated platforms should be promoted by marketers, the report went on to say.
Vodafone's collaboration with MySpace the Vodafone Music Reporter is one such development that indicates a focus on community and interactivity. The UK, Spain, Germany and Italy will take part in the joint venture.
Paul Stokes, news editor of NME, recently predicted that CD singles would soon disappear as a result of the popularity of downloading music.
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