Do you download music? If not then you’re very much in the minority. Research by Forrester Research Inc. has shown that by 2011, half of all music bought in the US will be music downloads; by 2012, music downloads will surpass CD sales. Legal downloads of MP3 music files are predicted to grow at an impressive rate of about 23% per year for the coming 5 years.
These are mind-boggling figures; and these deal with just legitimate recorded downloads. Free MP3 downloads are not included in these totals and could probably far exceed the legal numbers. Make no mistake: MP3 downloads are big business, and they are here to stay.
This change in consumer focus will change the industry as we know it. Sure buying online is convenient – and in today’s I-want-it-right-now culture that is key – but we will inevitably lose the romanticism associated with browsing through CD stores looking for the latest releases.
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