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TECHNOLOGY REVOLUTION (article first published : 2000-06-3)

An Anderson Consulting report, entitled New Media, New Value, reveals that the impact of the eEconomy on the music industry has brought new power to consumers at the expense of producers and distributors with at least 10% of global music sales on-line by 2002. Demand for music via the internet is expanding at a phenomenal pace. The sale of CD's via the internet grew by over 400% in 1998 alone, to reach almost $225.

The new report warns that the revolution in the music business is unstoppable and that companies must anticipate change rather than react to it. Propelled by new technologies and new policies of deregulation, digital television and radio are offering global consumers another alternative to visiting their local music shop. Television channels are already beginning to offer consumers the ability to listen to music and purchase it via the television set.

New media will enhance and enrich traditional media and the music industry can no longer ignore the market power of today's consumers. By 2005, a fifth of the world's population is expected to have access to the Internet, a mobile phone and television with rising incomes and leisure. The eEconomy is giving music companies unprecedented opportunities for expansion.

Andersen Consulting is an $8.3 billion global management and technology consulting organisation whose mission is to help its clients create their future.




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