Trends Report

The End Of The Music Industry As We Know It

The State Of The Digital Audio Market 2008

February 15th, 2008
James McQuivey, PhD, VP, Research Director
James McQuivey, PhD VP, Research Director
With contributors:
April Lawson , Ellen Daley

Summary

The close of 2007 marked the end of a decade of decline for the music industry. Digital audio — first illegal and now legal — has permanently changed how people find, buy, and listen to music. The new music industry economics will bring in $4.8 billion in revenue from digital downloads in the US in 2012, yet even the 23% compound annual growth rate (CAGR) from now until then will not compensate the industry for its losses. Media executives eager to stay afloat in this receding tide must clear the path of discovery and purchase, but only hardware and software providers can ultimately make listening to music as easy as turning on the radio.

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