Independent online music store eMusic recently announced that it has reached its 250,000th subscriber, marking a significant milestone for the company. What’s more impressive is that this achievement comes just four months after the company reported having 200,000 subscribers. The accelerating growth curve of eMusic is a testament to its unique position in the digital music industry, where it has carved out a niche for itself by catering to a customer segment that is underserved by mainstream music services.
David Pakman, the chairman and CEO of eMusic, attributes the company’s success to its ability to serve a significant customer segment that is eager to explore the riches of music outside mainstream pop and hip hop. This group of music enthusiasts has given eMusic an interesting distinction as a destination that appeals to a far more targeted and music-obsessed crowd. As a result, eMusic is now a distant second behind iTunes in the paid download market, which commands most of the attention in the industry.
eMusic’s success is due in part to its hybrid subscription and download concept, which has produced a healthy 100 million download total. In contrast, Apple has grabbed two billion total downloads, but eMusic’s focus on a specific niche has made it a destination that is almost in a separate pool. As the digital music market continues to expand, eMusic is looking to expand its reach into the Asian market. The company recently rolled out its services across Europe and is now eyeing Japan, a market known for its music-hungry population.
Expanding into Japan will be a challenging endeavor for eMusic, but it is a move that the company sees as necessary and promising. The Asian market is vast and diverse, with many music enthusiasts who are eager to explore new and unique sounds. eMusic’s focus on indie and alternative music makes it a perfect fit for the Asian market, where there is a growing demand for music that is not mainstream.
Despite the challenges of expanding into Asia, eMusic is well-positioned to succeed in this market. The company has a strong brand and reputation, and its focus on niche music genres has made it a popular destination for music enthusiasts around the world. Additionally, eMusic has a strong team of professionals who understand the unique challenges of operating in different regions and are committed to delivering high-quality services to customers.
eMusic’s expansion into the Asian market is part of its broader strategy to continue growing and innovating in the digital music industry. The company has a proven track record of success, and its focus on serving a specific customer segment has made it a unique and valuable player in the industry. As the music industry continues to evolve and change, eMusic is well-positioned to adapt and thrive, delivering innovative solutions that meet the needs of music lovers around the world.
In conclusion, eMusic’s recent milestone of reaching 250,000 subscribers is a testament to the company’s unique position in the digital music industry. Its focus on serving a specific customer segment has made it a popular destination for music enthusiasts around the world, and its expansion into the Asian market is a promising move that could lead to further growth and success. With a strong team and a commitment to delivering high-quality services, eMusic is well-positioned to continue thriving in the digital music industry for years to come.
Story by news analyst Alexandra Osorio.