(Yicai Global) July 11 -- US singer Rihanna's new album 'Anti' has already topped 1.9 million downloads on e-commerce giant Tencent Holdings Ltd.'s platform QQMusic, indicating that there is huge demand for paid digital music on the Chinese market.
Digital music may also bring new business opportunities for Chinese musicians. Some independent musicians are able to achieve monthly sales of CNY100,000 on popular music player Kugou Music, for instance.
Meanwhile the US digital music download market is struggling. The US lost sales of over 130 million singles tracks in the first half of the year, a drop of 24.2 percent year-on-year, according to a mid-year report from market monitor BuzzAngle. This amounts to losses of as much as USD100 million, when calculated at an average cost of between USD0.99 and USD1.29 per download on Apple Inc.'s iTunes.
More than half of the paid music streams in the US were from audio platforms in the first half of this year. This is the first time that digital music platforms such as Spotify Ltd. and iTunes have overtaken video-sharing websites such as YouTube, Llc in popularity.