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Global Digital Media Reaches $74 Billion
The leading 27 digital media companies in the world increased earnings by more than 20 percent, to $74 billion in 2008, up from $61.5 billion in 2007, according to new research from Strategy Analytics.
Out of the top five digital media companies globally, Apple's "Other Music Related Products and Services" segment, which includes iTunes, was best-in-class- growing 32.7 percent in 2008, while Yahoo saw positive growth, it grew the least with 3.4 percent.
"While growth in the digital media sector has been slowing as a result of the global economic downturn, the industry still grew a healthy 20.5% in 2008 and Strategy Analytics projects a further 7% - 9% growth in 2009," said Jia Wu, Analyst at Strategy Analytics' Digital Consumer Practice.
The research also found that most of the companies focusing on consumer paid-for media, such as music and video downloads, are currently withstanding the economic downturn better than most of the companies focusing...
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