Musicnotes, Inc., the market leader in downloadable sheet music and guitar tablature, announced today that the company is thriving even in the midst of a recession. With fourth quarter digital sales growth of 25-30% on its website, www.musicnotes.com, Musicnotes, Inc. is proving that music performance is truly recession-resistant.
MADISON, Wis. (Business Wire EON) December 3, 2008 --
Musicnotes, Inc., the market leader in downloadable sheet music and
guitar tablature, announced today that the company is thriving even in
the midst of a recession. With fourth quarter digital sales growth of
25-30% on its website, www.musicnotes.com,
Musicnotes, Inc. is proving that music performance is truly
recession-resistant.
Cyber Monday (Dec 1) digital sales growth actually accelerated to more
than 35%, exceeding expectations, in part due to more customer-centric
and community-based marketing efforts.
Looking at other key metrics:
-
Sheet music downloads are projected to exceed 150,000 in December,
rapidly approaching the 5 million mark (since inception) expected in
early 2009.
-
Daily Unique Visits exceeded 100,000 for the first time in the month
of November, with traffic up more than 25% year-over-year.
-
Musicnotes’ market share for downloadable sheet music continues to
exceed 80%* according to Hitwise.
-
Musicnotes will be solidly profitable in 2008 with margins expanding
as the company enters 2009.
“Musicnotes is showing its mettle in a rough economic environment,”
remarked Tim Reiland, Musicnotes Chairman and CFO. “The consumer
advantages to our digital delivery model are compelling, and we have
aggressive plans for continued growth.”
*Web sites included in this digital sheet music market share analysis
include: Musicnotes.com, Sheetmusicdirect.us, Freehandmusic.com,
Praisecharts.com, Sheetmusicscore.com, Digitalmusicnotebook.com,
GuitarInstructor.com and Sheetmusicdigital.com.
About Musicnotes: Musicnotes, Inc. offers an online catalog of
almost 90,000 digital sheet music titles, built on the strength of
content agreements with Alfred Publishing, EMI Music Publishing, Faber
Music Ltd, Sony/ATV Publishing, BMG/Universal, Disney Music Publishing,
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 IR as a “Hot 100” site
for 2009. On the Web: http://www.musicnotes.com.
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