by Kevin Coupe
The impact of technology on a single industry, and the way it can establish dominance for one or two aggressive companies, can be seen in a set of market share statistics.
Billboard reports that Apple's iTunes store has a 63 percent of the US market for digital music downloads, while Amazon has a 22 percent market share of unit sales.
And, the story says: "Though digital downloads are perceived to be a maturing market, it is still growing while sales of physical albums continued to decline. Last year, digital download sales grew 8.9% to $2.9 billion in the U.S., according to the Recording Industry Assn. of America. NPD estimated that the average buyer spends 6% more on music downloads in 2012 compared to the prior year. Surprisingly, part of that growth comes from teens buying more music than before. In addition, higher sales of full albums are also contributing to the growth, NPD said."
It's an Eye-Opener.
The impact of technology on a single industry, and the way it can establish dominance for one or two aggressive companies, can be seen in a set of market share statistics.
Billboard reports that Apple's iTunes store has a 63 percent of the US market for digital music downloads, while Amazon has a 22 percent market share of unit sales.
And, the story says: "Though digital downloads are perceived to be a maturing market, it is still growing while sales of physical albums continued to decline. Last year, digital download sales grew 8.9% to $2.9 billion in the U.S., according to the Recording Industry Assn. of America. NPD estimated that the average buyer spends 6% more on music downloads in 2012 compared to the prior year. Surprisingly, part of that growth comes from teens buying more music than before. In addition, higher sales of full albums are also contributing to the growth, NPD said."
It's an Eye-Opener.
- KC's View:
