Click to enlarge |
According to the company, there will be huge growth in digital sales over the next four years. In 2007, digital sales of music accounted for 10 per cent of the total worldwide music market, up from 6 per cent in 2006.
In-Stat says a couple of factors are contributing to this growth including the expansion of broadband, demand for single track downloads and expanding music catalogs. Full track downloads to mobile phones will also be a factor in the next few years, the report said.
However there are still many obstacles to any potential growth in the online music business, says the research firm.
