Musicnotes sales up 30 percent this year
Despite a weakening economy, Madison-based Musicnotes said it continues to grow.
Musicnotes, the leader in downloadable sheet music and guitar tablature, on Monday reported that it has sold nearly 500,000 downloads at Musicnotes.com this year through early May, generating about $3 million in sales, 30 percent more than the same period of 2007.
"There is certainly no recession at Musicnotes," Chairman and Chief Financial Officer Tim Reiland said in a statement. "If anything, we have seen our growth accelerate over the past several weeks."
Since the site's launch in late 1999, www.musicnotes.com has sold almost 4 million downloads to more than 1.2 million customers. The site currently receives 80,000 unique visits a day, and traffic data from Hitwise show Musicnotes with more than a 70 percent share of the downloadable sheet music market, the company said.
"Musicnotes is now a solidly profitable company but remains in the early innings of its growth plan," Reiland said. "We continue to focus on adding great content and enhancing the customer experience."
Musicnotes currently offers more than 75,000 downloadable songs, and "although quantity is not the name of the game in sheet music, we would hope to more than double our offering in the years ahead," Reiland said. "There are still many publishers who do not have their valuable content on Musicnotes.com."
Musicnotes said its pay-for-content model has generated almost $10 million in royalties for publishers and songwriters since inception.
The company said it continually evaluates new music industry business models and is currently in the Alpha phase of its advertising-supported guitar and drum tablature Web site www.mxtabs.net. The company expects to shortly announce details regarding the formal launch of MXTabs.
File photo
Sales are up for Musicnotes, the leader in downloadable sheet music.
