Question

Topic: Research/Metrics

Determining Market Size

Posted by Anonymous on 10/26/2006 at 2:07 PM ET 250 Points
My question has to do with determining market size. I am writing a business plan, and have gotten to the part where I need to determine how much potential business exists.

The proposed business will provide access to a broad range of products, services and resources to professionals in the music industry, but I don't know how to identify the size of the market. Is it:

* The # of music makers & professionals who work in the business of music?

* The number of providers of products & services to music professionals?

* Is market size reflected/impacted by the consumer market for end products (i.e. CD/downloads)

Finally, given that the business is web-based, my market is potentially the world, but my focus is the U.S. Am I correct that I should focus on determining market size for just the US?

To say I could use a hand would be an understatement...hope you can help
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RESPONSES

  • Posted by Harry Hallman on 10/26/2006 at 3:23 PM Member
    I am sure you can find enough to give you an idea if the business will work through the internet. Google Music Industry Statistics and see what happens.
  • Posted by Stephen Denny on 10/27/2006 at 11:44 AM Accepted
    The info you're looking for is on the web, given some digging. There are music industry sources that can also help you move forward with sizing, from RIAA to others. Look for links off of these sites.
  • Posted by Stephen Denny on 10/27/2006 at 3:15 PM Accepted
    Here's a source (per my above comment) that you might find helpful -- https://www.digitalmusicnews.com/. Good links out to shows, blogs, etc.
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