Musicnotes.com Revenue Growth Exceeds 20% Going into Holiday Sales Season
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.