JupiterResearch is focusing on a growing trend in the music industry that will change the landscape as consumers have come to know it. Digital music was a $1.3 billion business in 2007, but it still only comprised 10 percent of consumer music spending. Meanwhile, Apple continues to dominate both devices and downloads and Yahoo! became the third big player to drop out of on-demand subscription services.
Will digital music ever save the industry? Are downloaded singles replacing CD sales? Who are the consumers of today? How will they shape the future of the music industry? What is the role of ad-supported services, and of P2P networks? Will there be a showdown between iPods and music phones? iPods and anybody? How is anyone expected to compete with, or thrive alongside Apple?
JupiterResearch Vice Presidents Michael Gartenberg and David Card will focus on these questions during a webinar slated for Tuesday, March 11 at 1 p.m. Plug.IN will explore trends in digital music and the outlook for the future.
"The challenge remains for the industry to find new ways to compete with Apple, who remains the dominant player for portable media devices," said Gartenberg. "As consumer's device preference drives online music stores and services, it will become even more critical to find new devices paradigms to capture consumer attention and new business models to sell content and services on those devices."
The Internet is very much changing the way the public is exposed to music. The musical tastes of consumers are no longer to limitations of terrestrial radio and to MTV. Independent internet radio stations, social networks, and other websites have really opened up the playing field for independent artists to reach out to a mainstream audience. iTunes and other online music retailers are also changing the way music is purchased. Hot and popular are now giving way to Independent artists who are just as likely and able to make their material available on iTunes and other internet resources.
"This is a great time to be a music consumer, but it's a lousy time to be in the recorded music industry, and touring and music media aren't a whole lot better," said Card. "The cold, hard facts of the matter are digital sales aren't making up for the CD's decline, and recorded music hasn't been able to tap into advertising. This industry desperately needs to take even more costs out of A&R and marketing, and the Internet and digital music haven't provided the solutions yet."
For more information at http://www.jupiterresearch.com