Musicnotes.com Revenue Growth Exceeds 20% Going Into Holiday Sales Season
Vijay Fernandes
MADISON, WI - November 17, 2009 - Musicnotes.com, the leading digital
sheet music retailer and publisher, announced today it is seeing
better than 20% sales growth year-over-year as the holiday sales
season begins.
The site, which recently sold its six millionth download, is
approaching 200,000 paid downloads per month and is receiving 120,000
visitors to the site daily. A meaningful percentage of this growth in
sales and traffic is due to Musicnotes' international business, which
now accounts for more than 20% of sales and is growing at a faster
rate than overall business.
As a result of the continually growing sales, Musicnotes is also
approaching $15 million in total royalties paid to its publishing
partners since 2000, with almost $4 million alone expected to be paid
in 2009.
Musicnotes attributes its growth to a continued focus on improving the
customer experience as well as its continually expanding catalogue of
downloadable sheet music, including songs from several significant
content deals signed in 2009.
"What we find most interesting is that we are seeing this level of
growth without any new "hit" songs," said Bill Aicher, Musicnotes Web
and Marketing Director. "Less than 4% of our sales are coming from our
top ten downloads. This growth is really coming from across the entire
spectrum of our catalog."
According to the most recent data from research firm, Hitwise,
Musicnotes.com continues to lead the digital sheet music retail market
with a market share of over 80%.
About Musicnotes: Musicnotes, Inc. offers an online catalog of 100,000
digital sheet music titles, built on the strength of content
agreements with Alfred Publishing, EMI Music Publishing, Faber Music
Ltd, Sony/ATV Publishing, Universal Music Publishing Group, Disney
Music Publishing, Cherry Lane Music Company, Peermusic, Word Music,
EMI Christian, Bug Music and many others. Musicnotes is included in
Internet Retailer Magazine's list of the Top 500 Online Retailers and
was recently selected by Internet Retailer as a "Hot 100" site for
2009.
On the Web: http://www.musicnotes.com