Internet music radio and track play listening hours rose 50.5% in 2011 to over 1.3 billion monthly, while monetization initiatives (advertising and subscription) advanced 64.3%, according to this in-depth sector analytics report
This sector research report details how the market’s forward momentum accelerated in 2010, delivered strong usage and monetization results in 2011 which continue unabated in 2012. For the first time, sector revenue growth outpaced that of radio and track play listening hour growth.
The sector achieved $293.7 million in gross media spend (all format executions, including audio, video and display), with another $171.7 million in subscription revenue. The total market is forecast to rise 78% in 2012.