Mobile Music Bolsters Music, Telecom Industries
23 May 2006
Music available for downloading onto mobilephones is a lifeline for the shrinking global music industry and criticalto wireless providers with an urgent need to recoup investment in theirnetworks.
Worldwide revenue from sales of mobile music is projected to increase from$434 million in 2005 to $7.7 billion by 2010, in a new eMarketer report,"Mobile Music: A New Marketing Challenge." While sales of music in digitalform will comprise 35% of the overall music industry revenue by 2010, salesof music onto mobile phones will make up 65% of that digital slice of themusic pie.
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Over the past two years, music fans enamored of the novelty of mobilemusic, have created a situation of "found money" for the record industry.This year mobile music will shift from being the purview of the hard-coremusic fan to a mass market, directed by the tastes of more casuallisteners, says John du Pre Gauntt, senior analyst eMarketer, who wrote thereport.
"The era of found money will end this year," he says. "It will be replacedby an era of 'heavy lifting' involving marketing mobile music services toconsumers who now have multiple, legitimate choices for experiencing musicanywhere they want on most any device."
Marketers in the music and mobile telecom industries will face thechallenge of driving rapid revenue growth, while consumer industrymarketers will find new opportunities to engage with consumers using musicas a currency.
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Click on eMarketer.com for more information on eMarketer's Mobile Music:A New Marketing Challenge report.
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Media Contact:Kris OserDirector of strategic communications, eMarketerEmail ContactTel. 212-763-6033
SOURCE: eMarketer
Source: marketwire
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