Digital Music Report 2008
Posted: January 28th, 2008, by Yunho Chung
As many blogs and tech news sites have reported the IFPI, or the International Federation of the Phonographic Industry has released a new report on the state of the worldwide music industry. This new report sheds some light on the current trends and gives us some ideas on what to expect from the future. The Industry grew 40% in 2007 and increased its market share in the complete music business from 11% to 15% of the industry.
When focusing on Korea, we find that Korea is the first market in where digital music content values surpassed that of physical, and at this moment digital represents around 60% of the industry. Korea is considered the 4th biggest digital music market in the world after the US, Japan and the UK. In Korea, 63% is from online activity and 37% from mobiles.
Some of the larger players in this market are locals Melon, owned by SK Telecom, and Dosirak, owned by KTF. These are the familiar players in most telecom, media and technology markets. As the digital music market report states, Korea is one of the best examples of potential for the digital music business and for any other digital media in general.
