Global online music revenues are expected to rise by about 7 percent this year to $6.3 billion as digital services such as Spotify and iTunes gain momentum, technology research firm Gartner said on Tuesday.
But sales of CDs, hurt by piracy as well as paid-for online distribution, will continue to decline faster than can be made up for by digital sales, as the music industry struggles to adapt to consumers’ changing behavior, Gartner predicted.
By 2015, Gartner forecasts online music spending will rise to $7.7 billion from $5.9 billion in 2010. In the same period, consumer spending on CDs and other physical music forms is seen falling to about $10 billion from $15 billion.
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