Music Spending on Web to Skyrocket, Study SaysOnline music expenditures by U.S. consumers will increase from $1 billion this year to $6.2 billion in 2006, Jupiter Media Metrix said yesterday.
The July 2001 Jupiter Internet Music Model forecasts that online music sales will represent 7 percent of music sales in the United States this year and will jump to 32 percent in 2006.
Digital music sales, including digital subscription models and single paid downloads, will account for 3 percent of online music sales this year and grow to 30 percent in 2006 as spending skyrockets from $29 million to $1.9 billion. Single paid downloads will make up most of digital music sales this year -- $25 million for downloads as opposed to $3 million for subscriptions. However, digital music subscriptions will take over in 2006 with $1.2 billion for subscriptions as opposed to $700 million for downloads.