Digital Music—Then and Now2003 2007 Number of legal services Less than 50 More than 500 Licensed tracks for sale 1 million 6 million-plus Value of digital music sales ~$20 million 8/01/2008 8:00 AM Eastern
|Number of legal services||Less than 50||More than 500|
|Licensed tracks for sale||1 million||6 million-plus|
|Value of digital music sales||~$20 million||~$3 billion|
|Digital as a percentage of overall recorded music sales||0||15|
|Number of formats (videos, ringtones, etc.) available per artist release||Less than 10||More than 100|
|Courtesy IFPI Digital Music Report 2008, www.ifpi.org|
As you can see, a digital music market has exploded in the past five years, with consumers having access to more than 6 million tracks from more than 500 legal online services. Also, a single artist today can release an album in multiple formats, including video downloads, ringtones or mobile full tracks. For example, sales of Justin Timberlake's FutureSex/LoveSounds comprised 115 products that sold a total of 19 million units, of which only 20 percent were in CD format.