
Global digital music market worth USD 5 bln - survey

The global digital music industry is worth over USD 5 billion in sales, and accounts for over 32 percent of the global market, according to an analysis of the Italian Music Industry Federation (Fimi) based on data from the Milan Polytechnic, the Between Observatory, Nielsen and ComScore. It said South Korea and the US account for more than 50 percent of the total, and that there are 20 million songs available on over 500 platforms. In Italy, downloading and streaming represent more than 21 percent of the music market with a turnover of EUR 27.5 million. The research shows that mobile internet users downloaded apps and content amounting to 43 percent of this total in 2011. At the end of 2011, there were over 21 million smartphones in Italy and 95 million SIMs with more than 48 million users. According to Nielsen, Italian tablet users are in second place to Americans when it comes to music purchases, accounting for 20 percent. In 2011, Italians spent EUR 500 million on mobile commerce and mobile remote payment, and 80 percent of Italian internet users are active on social networks, which is the highest average in the world.
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