Table of Contents
◇　Executive Summary
◇　Methodology
◇　Definitions
◇　Market Overview
　　*　Market Environment
　　　　☉　Peer-to-Peer (P2P) and Digital Music Piracy
　　　　☉　Digital Music Regulation
　　　　☉　Transforming Music Value Chain
　　　　☉　Native Label’s Online Choice
　　　　☉　Emerging Digital Music Content
　　*　Competitive Landscape
　　*　Market Share
　　　　☉　Digital Music Service Market Share
　　　　☉　Portable Music Player Market Share
　　*　Digital Music Consumer Behavior
　　　　☉　Mass Ready for Network Original-Creation
　　　　☉　Potential Users’ Pricing Preferences
◇　Market Trends
　　*　Digital Music Market Drivers
　　　　☉　Growing Demand for Consumer Entertainment
　　　　☉　Growing Use of Enabling Technologies
　　　　☉　Growing Availability of Compelling Content & Services
　　*　Digital Music Market Barriers
　　　　☉　Imperfect E2E Consuming Experience
　　　　☉　P2P and Piracy Are of Long Duration
　　　　☉　International Firms’ Difficulty in Dealing with Low Prices
◇　Market Forecast (2005–2008)
　　*　Digital Music Service Forecast
　　*　Digital Music Device Forecast
◇　Profiles of Key Players
　　*　Online Music Stores
　　　　☉　Wanwa.com
　　　　☉　Background
　　　　☉　Business Introduction
　　　　☉　Strength & Weakness
　　　　☉　A8.com
　　　　☉　Background
　　　　☉　Business Introduction
　　　　☉　Strength & Weakness
　　　　☉　TTmusic.com
　　　　☉　Background
　　　　☉　Business Introduction
　　　　☉　Strength & Weakness
　　　　☉　TOM.com
　　　　☉　Background
　　　　☉　Strength & Weakness
　　*　Portable Audio Device Vendors
　　　　☉　Huaqi Inc.
　　　　☉　Background
　　　　☉　Digital Music Business
　　　　☉　Strength & Weakness
　　　　☉　BenQ Inc
　　　　☉　Background
　　　　☉　Digital Music Business
　　　　☉　Strength & Weakness

List of Tables
　　Table 1. User Base of Broadband Internet Access, Mobile Phones, and Portable
Audio Players in China at the End of 1H05 (Units in Millions)

List of Figures
　　Figure 1. Legitimate Online Music Market Revenue Forecast: China, 2004–2008 (US$ in Millions)
　　Figure 2. Piracy Market Value in China by Format, 2004 (US$ in Millions)
　　Figure 3. Arguments About Digital Music Regulation in China from Interviewees7
　　Figure 4. Industry Structure: China’s Transforming Music Value Chain
　　Figure 5. Revenue Share Among China Music Industry Stakeholders
　　Figure 6. Analysis on Online Choices for Traditional/Major Labels
　　Figure 7. Emerging Content Players in China’s Digital Music Value Chain
　　Figure 8. Vertical Integration Trends of China’s Digital Music Value Chain
　　Figure 9. Online Music Service Market Share in China, by Revenue, 1H05
　　Figure 10. Flash-Based Portable Audio Player Market Share in China, by Shipment, 2004
　　Figure 11. HDD-Based Portable Audio Player Market Share in China, by Shipment, 2004
　　Figure 12. Affordable Price for Single Download: Results from In-Stat’s Consumer Survey
　　Figure 13. Users’ Top 3 Priority Payment Methods: Results from In-Stat’s Consumer Survey
　　Figure 14. Usage of Portable Audio Players vs. Music Handsets: Results from In-Stat’s Consumer Survey
　　Figure 15. China’s Legitimate Online Music Market Revenue Forecast, 2004–2008 (US$ in Millions)
　　Figure 16. Digital Music Device Shipment Forecast: China, 2004–2008 (Units in Millions)