According to report from NMA, EMI‘s digital revenues have grown to £102m in the 6 months since September. This is a 50% increase over the last 12 months and has given them a total digital market share of 12.6%, which is about $3.7 billion according to The Times.
This comes in as total digital market share grew to 24%, largely down to, the article says, Nokia‘s new comes with music offering, and Spotify. Indeed, you could say that Dene Schonknecht‘s prediction that there will be a rival service to iTunes is slowly coming true with Spotify’s massive user uptake.
Since 2003, iTunes has sold over 6 billion tracks and their authority is now being challenged with the new services offering free streamed music. The changes in digital music are forcing the traditional industry to change – you can hear Todd Rundgren’s thoughts on how this needs to happen over at Hypebot.
It has been estimated that digital sales will overtake physical CD sales by 2013 and with services such as Spotify changing the way that digital music is delivered to the ears of consumers, it wouldn’t be surprising if that date was to be revised in the next 6 months to 12 months sooner.
I’ve got a handful of invites to Spotify, if you’d like one, please sign up to my e-mail updates! I only have a few, so if you miss out, please don’t worry as i’ll send you an invite when I get some more :-)