MUMBAI: Global digital music market revenue will reach 20 billion by 2015 at a CAGR of 22% from $7 billion in 2010, according to â€?The Digital Music Market Outlook report.’
The digital music market in India, China, and Mexico has showcased strong growth, whereas countries like US, Japan, UK, France, and Germany remain key digital markets, accounting a market value of 79.5% in 2010.
The report conducted by MarketResearch.com also states that the digital music subscriptions will grow at CAGR of 61% over the forecast period.
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â€?Digital Music Market Outlook report,’ examines developments across the rapidly growing digital music industry. It analyzes evolving value chain and business models; underlines key players’ strategies and industry stakeholders’ initiatives to curb piracy.
Globally, ISPs are entering the battle against music piracy, primarily driven by the collective efforts of music companies and local government’s support. In 2010, France, Ireland and South Korea took steps to curtail music piracy, while others including the UK, New Zealand, and Malaysia are aiming to do so in 2011.
