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JUPITERRESEARCH FORECASTS DIGITAL MUSIC SALES WILL HIT $1.7 BILLION IN 2009, BUT WON'T REPLACE CDs
(New York, NY - July 26, 2004) -- JupiterResearch, a division of Jupitermedia Corporation (Nasdaq: JUPM), revealed in its latest music forecast presented today at the Jupiter Plug.IN Conference & Expo 2004, that digital music sales will more than double compared to last year, reaching more than $270 million in 2004, and will grow rapidly to $1.7 billion in 2009, totaling 12% of consumer music spending. While digital music will return the U.S. music industry to growth after four years of steeply declining sales, digital music still will not replace CDs or bring music sales back to its 1999 peak.
Over time, revenues for digital subscription services will outpace those of digital download, which will remain a market for potential buyers to sample music before purchasing the actual CD in the near-term. "The so-called celestial jukebox is in sight," said JupiterResearch VP and Senior Analyst David Card, "But for now, it will appeal to music aficionados. The U.S. music industry must manage digital music as one of a series of incremental revenue streams, one that is in the same scale as licensing (e.g., ring tones, games and advertising)," added Card.
Meanwhile, U.S. shipments of MP3 players will grow over 50% in 2004 to well over 5 million, and will continue to grow almost 50% per year for the next several years. "A lot of the action in hard drive-based devices will be at the low end in terms of price and capacity that will help drive the market," stated JupiterResearch VP and Research Director Michael Gartenberg. "JupiterResearch surveys show that 77% of consumers who would purchase a portable music player would want no more than 1,000 songs on a player at any given time, regardless of the size of their music collection," added Gartenberg.
The complete findings of this forecast are immediately available to JupiterResearch clients online. For more information on the forecast or JupiterResearch's Music research service please contact Kieran Kelly, Vice President of Global Sales and Client Service at 1-800-481-1212 or [email protected].
About Jupitermedia Corporation
Jupitermedia Corporation (Nasdaq: JUPM), (www.jupitermedia.com)
headquartered in Darien, CT, is a leading global provider of original information, images, research and events for information technology, business and creative professionals. JupiterWeb, the online division of Jupitermedia, operates four distinct online networks: internet.com and EarthWeb.com for IT and business professionals; DevX.com for developers; and ClickZ.com for interactive marketers. JupiterWeb properties include more than 150 Web sites and over 150 e-mail newsletters that are viewed by over 20 million users and generate over 300 million page views monthly. Jupitermedia also includes: JupiterImages, one of the leading images companies in the world with over 3.5 million images online serving creative professionals with products like Comstock Images, Photos.com and ClipArt.com; JupiterResearch, a leading international research advisory organization specializing in business and technology market research in 18 business areas and 14 vertical markets; and JupiterEvents, which produces offline conferences and trade shows focused on IT and business-specific topics, including Search Engine Strategies and Wi-Fi Planet.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release which are not historical facts are "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The potential risks and uncertainties address a variety of subjects including, for example, the competitive environment in which Jupitermedia competes; the unpredictability of Jupitermedia's future revenues, expenses, cash flows and stock price; Jupitermedia's ability to integrate acquired businesses, products and personnel into its existing businesses; Jupitermedia's dependence on a limited number of advertisers; and Jupitermedia's ability to protect its intellectual property. For a more detailed discussion of such risks and uncertainties, refer to Jupitermedia's reports filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934. The forward-looking statements included herein are made as of the date of this press release, and Jupitermedia assumes no obligation to update the forward-looking statements after the date hereof.
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Lisa DiGiacomo
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203-662-2870
[email protected]
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All current Jupitermedia Corporation press releases can be found on the World Wide Web at http://www.jupitermedia.com/corporate/press.html.
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