2005 Press
EUROPEAN MUSIC INDUSTRY FACES A DEMOGRAPHIC TIME BOMB WARNS JUPITERRESEARCH
(New York, NY - November 29, 2005) - JupiterResearch, a division of Jupitermedia Corporation (Nasdaq: JUPM) announced that the European music industry is facing a demographic time bomb that could impact future revenues, according to the report entitled: "European Music Consumer Survey, 2005".The JupiterResearch report reveals that European consumers who download music from illegal file sharing networks currently outnumber those downloading from legal services such as Apple's iTunes Music Store by a factor of three to one: 15% file share while just 5% pay to download. There is solid demand for paid downloads, however, 10% of European consumers are willing to pay, rising as high as 31% in Sweden.
File sharing penetration in Europe is highest among younger consumers (34% of 15-24 year olds) and is impacting the way they value music with many having little concept of music as a paid commodity. Among the 46% of European online 15-24 year olds who use the Internet to consume music, the CD is becoming increasingly irrelevant: 40% do not consider the CD to be a good value for money and 43% prefer to copy rather than buy CDs. Unless these consumers are encouraged to develop music purchasing behavior soon they may never develop meaningful music buying habits.
"Illegal activity is a key threat. The Digital Youth of today are being brought up on a near limitless diet of free and disposable music from file sharing networks. When these consumers age and increase spending power they should become key music buying consumers," stated Mark Mulligan, Analyst at JupiterResearch. "But unless the music industry can transition these consumers whilst they are young away from free consumption to paid music formats, be they digital or CDs, they may never develop music purchasing behavior and the recording industry could suffer long-term harm," added Mulligan.
The complete findings of this report are immediately available to JupiterResearch clients online. For more information on the report 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 and research for information technology, business and creative professionals. Jupitermedia includes JupiterImages, one of the leading images companies in the world with over 7.0 million images online serving creative professionals with brands like BananaStock, Brand X, FoodPix, Botanica, Nonstock, Comstock Images, Creatas Images, PictureQuest, Liquid Library, Thinkstock Images, Thinkstock Footage, Goodshoot, ITStockFree, Photos.com, Ablestock.com, PhotoObjects.net, Clipart.com and Animations.com; and JupiterWeb, the online media division of Jupitermedia which operates four distinct online networks: internet.com and EarthWeb.com for IT and business professionals; DevX.com for developers; and Graphics.com for creative professionals. JupiterWeb properties include more than 150 Web sites and over 150 e-mail newsletters that are viewed by nearly 20 million users and generate over 300 million page views monthly. Jupitermedia also includes: JupiterResearch, a leading international research advisory organization specializing in business and technology market research in 18 business areas and 14 vertical markets.
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For information on this report and JupiterResearch contact:
Vic Beck or Peter Arnold
781-239-1030
[email protected]
For information on Jupitermedia Corporation contact:
Lisa DiGiacomo
Marketing and Public Relations Associate
212-547-7938
[email protected]
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92044 Paris la Defense
Tel: +33 1 40 90 31 91
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