According to Reuters, in the week between Christmas and New Year's consumers downloaded legally more than 20 million music tracks (and they didn't have to venture into the post-Christmas sale crowds at the mall). This is more evidence that consumers are coming to accept the notion of paying for music online. Supporters of unauthorized file-sharing have been quick to fault legal music services, but I've always maintained they were a nascent market. Now it seems they're starting to grow. As MP3 players come down in cost and more music is licensed -- and hopefully as labels are allowed to offer more flexibility on price, both higher and lower than 99 cents -- this market should take off.

posted by Patrick Ross @ 9:22 AM | Markets: Business, Investment & Innovation

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