Yankee Group sees record industry fall

Recording artists are set to make big bucks from Internet downloads while record companies will become increasingly isolated, technology research company Yankee Group said Tuesday, reports Business Week.

"Yankee also said U.S. recording industry revenue has plummeted and digital download revenue is insufficient to cover plunging CD sales.

According to Michael Goodman, director of Yankee Group's digital entertainment practice, single-song downloads will outpace album downloads or subscriptions, and that computer music downloads will outpace cell phone downloads.

He said that despite the best efforts of cell phone networks, Internet distribution will continue to account for 80 percent of the digital music industry."

emily | 8:44 PM | News, Buzz |
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