Global Digital Media Reaches 74 Billion

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Global Digital Media Reaches $74 Billion

By: Mike Sachoff
2009-03-20

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 on online advertising.

"The fact that, in 2008, most of the companies focusing on consumer paid-for media in the Strategy Analytics Digital Media Index performed much better than most of the companies focusing on online advertising, could be an early indicator that we are approaching a watershed moment in the nascent digital media market, and that more focus will be put on consumer paid-for online media in the difficult years ahead," said Martin Olausson, Director of Digital Media Research at Strategy Analytics.

About the Author:
Mike is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.


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