Online music may be catching on. Some 70 percent of respondents to a recent In-Stat survey had downloaded music in 2006, up from 48 percent in the previous year, the research company reports.
In-Stat said online sales of digital music represented six percent of the total worldwide music market in 2006, up from four percent in 2005. And it estimates that by 2011, online sales of digital music will represent 26 percent of all music purchased worldwide.
“The Internet is now an essential channel for online music distribution; and social networking sites, such as YouTube and MySpace, are beginning to show great potential as new and legitimate channels for digital content consumption,” says In-Stat analyst Stephanie Ethier.
“As a result, consumers are demanding access to digital content in more ways than ever.” Also revealed is that a large chunk of downloaded music is being stored on a mobile phone.
