Combined revenues from the four major mobile app stores: Apple, Google, Nokia and RIM will rise 77.7% in 2011 to $3.8 billion, with Apple grabbing 75% of the market, according to new IHS research. (Click on image to enlarge.) While sector numbers were not released, gaming apps generate the most revenue with music lagging far behind. Apps represent a major revenue opportunity for the music industry, but only a handful of companies like The Echo Nest are seriously exploring the boundaries of what music apps can deliver.
Total app revenue is projected to continue rising in the next few years to $5.6 billion in 2012, $6.9 billion in 2013 and $8.3 billion in 2014.
Mobile music apps could turn into another missed opportunity for the music industry unless music and music tech companies jump in while the sector is still in its infancy.
Total app revenue is projected to continue rising in the next few years to $5.6 billion in 2012, $6.9 billion in 2013 and $8.3 billion in 2014.
Mobile music apps could turn into another missed opportunity for the music industry unless music and music tech companies jump in while the sector is still in its infancy.
