$1 bln worth of digital music will be sold in Europe in 2009

Jupiter Research said in 2009 European music fans will buy 836 mln euros ($1 bln) worth of music in the form of digital downloads and subscriptions to Internet radio services.

At that level, digital music revenues will account for roughly 8% of Europe’s estimated 10.2 bln euro music market. The study does not take into account the surprisingly successful market for mobile phone ring tones. Forrester Research said the Western European digital music market would be worth 3.5 bln euros – or 30% of the overall European market – by 2009. The digital music market is expected to grow 4x in 2004 to 46.3 mln euros. Britain, the world’s third largest music market, will be the top online music market in Europe, accounting for 30%, or 248 mln euros, of online music sales in 2009.