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Business News (more headlines) 01-18-2011

Sheet Music Download Sales Increase 25% At Musicnotes.com In 2010

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Website: http://www.musicnotes.com
MADISON, WI – January 18, 2011 – Musicnotes.com, the leading digital sheet music retailer and publisher, announced today sales of digital sheet music at its online store grew 25% in 2010, accelerating from the 21% growth recorded in 2009 and exceeding $10 million in yearly sales for the first time.

"Musicnotes added great content in 2010 – both new song releases as well as back catalog – and made marked improvements to the customer shopping experience, resulting in a solid increase in our conversion rate," stated Musicnotes Chairman, Tim Reiland. "We are expecting further conversion gains in 2011 as we introduce significant site enhancements currently in development."

Other important developments at Musicnotes in 2010:

- Musicnotes added its two millionth customer in Spring and ended 2010 with more than 2.3 million total customers

- A free sheet music app was introduced for the iPad in May, with a significantly enhanced app offered in October. The Musicnotes app was downloaded more than 50,000 times from the iTunes app store in 2010.

- International sales reached 23% of total sales, a new high.

- The top seller for 2010, “Hallelujah” by Leonard Cohen, exceeded 20,000 downloads - a new high for a yearly best seller.

- Royalties paid to publishers and songwriters exceeded $4 million for the year.

- Over 2.2 million sheet music downloads were purchased during the calendar year.

The overall digital sheet music market continued to develop in throughout 2010 but still remains a modest part of the overall $1 billion worldwide market for sheet music.

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, Universal Music Publishing Group, EMI Music Publishing, Faber Music Ltd, Sony/ATV Publishing, Disney Music Publishing, Cherry Lane Music Company, Peermusic, Word Music, EMI Christian, Bug Music and many others. Musicnotes is featured in Internet Retailer Magazine’s list of the Top 500 Online Retailers and is one of the top 50 American Music Products Retailers according to Music Trades Magazine.

On the Web: http://www.musicnotes.com

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