Question 1
Australian music industry has not been substantially impacted by the digital music trend yet. But the symptoms of perceived impact can be felt by looking at the mass digital music adoption rate. Digital music has shown tremendous growth of about 250% of value $ 27.8 million and 320 % in volume till end of 2006. This growth has increased the share of digital distribution from 1.5 % in 2005 to 5.5 % in 2006 in Australia. Amidst global trend of obtaining digital music online from legal and illegal source growing at a rapid phase. The Australian music industry on other hand is dominated largely by the physical sources of music like CDs and DVDs up to 95 % till 2006.
(Source: 2006 ARIA yearly statistics http://www.aria.com.au/2006AustralianWholesaleRecordSales.htm)
The future forecast of digital music is assumed to be $ 60 million in 2007 and around $ 200 million in 2010. The future of music industry is online digitalization, which would waive off the physical medium......
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Approximate Word Count: 4584
Approximate Pages: 18 (260 words per double-spaced page) |