Due to “overall music industry doldrums and lackluster digital offerings,” Jupiter Research said today that it has cut the online music forecast it released earlier this year. However, online music will grow from less than US$1 billion in 2003 to $3.3 billion in 2008, according to the firm. “While Apple has rekindled interest in digital downloads, total digital sales — downloads and subscriptions — will not surpass $80 million this year,” said Jupiter senior analyst Lee Black. “The industry is suffering from competition for entertainment dollars, changing demographics, the end of the CD upgrade cycle and piracy.”
