updated 09:45 am EST, Tue December 9, 2003
MP3 player market growing
Noting that Apple's iPod and iTunes Music Store has energized the music industry, today announced that it forecasts that U.S. shipments of MP3 players will almost double in 2003 to over 3.5 million, and will continue to grow almost 50% per year for the next three years: "Demand for MP3 players with hard drives will outstrip demand for those with flash memory starting in 2004. By 2006, the installed base of MP3 players will top 26 million, establishing a critical mass of users that will help spur digital music sales." Based on a new forecast and an October 2003 consumer survey, it says that nearly 60% of consumers in the market to buy a music player will be shopping online for the holidays.