Internet radio will drive home audio networking, according to a new report from Futuresource Consulting.
Currently, the digital music market in the United States now accounts for 35 percent of the country’s music revenues, with a subscription market worth nearly US$3 billion (85 percent derived from satellite radio). In the United Kingdom, consumers spend almost twice as much on music per capita as the U.S. and European average.
With more standalone Internet radio devices coming to market, on top of rapid consumer uptake of laptops, notebooks and Wi-Fi-enabled broadband, and the market is shaping up for a networked audio revolution, Futuresource believes.
Futuresource expects the market for standalone Internet radios will grow from its 2008 niche position of less than 500,000 units worldwide to some 5 million units by 2013.
“Server-to-audio networking, combined with wireless multiroom audio systems, is just the beginning,” said David Watkins, senior market analyst at Futuresource Consulting.