by Chris Ho
The vast space we know as the Internet is consuming and transforming business faster than ever before. The appearance of established traditional shop brands in cyberspace is testament to the increasing attractiveness of online business ventures. The music industry is a prime example, with digital music accounting, for the first time, for more than a quarter (27%) of total worldwide music revenues in 2009, reaching a figure of US$4.2 billion. It has been estimated that online platforms will drive the growth of this industry in years to come. This can be attributed to the many advantages of online business, namely in cost and revenue, as well as to the retailer or service provider and consumer.
Starting an online business is comparatively less costly than starting a brick-and-mortar (shop-based, traditional model) one.
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