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Is mobile the future of the music industry?
Source: www.three.co.uk
Topic: Music Industry
Sort Desciption: players in the music industry. This report summarises the findings – and .... industry is now primed for the mobile music explosion. Many UK record ...
Content Inside: Is mobile the future of the music industry? By Johnny Davis. Music Report. The digital revolution has changed the way people buy music forever. In the first half of 2006 alone sales of physical formats such as CDs were down 10% on the previous year and download sales up by a massive 106%. This momentous change in our music purchasing behaviour has been driven by the consumer, who wants instant gratification, 24 hour access to new music and portability above all else. And of course the consumers leading the digital revolution have been the younger age group – the under 24s who adopt new technologies quicker than their elders. However digital music is nothing new to Britain’s youth – they probably owned their first music as downloads. The latest trend to emerge is the rise of the mobile phone as the purchasing method of choice for the ‘I want it now’ generation. Music bought over a mobile phone is now the fastest growing sector of the UK music market – in the first half of 2006 it was already up 100% on 2005 – and it is set to grow even faster over the next few years as more and more mobile operators see the value of selling music. And it’s hugely encouraging that 25% of customers on 3 are under 24 – proof that young consumers will pay for music when they see value for money. 3 has been at the forefront of establishing mobile as a music retail channel. Kicking off with music video in 2004 and then audio tracks last year, 3 now has 75% of the mobile music market and is really driving the sector in the UK. As such they have commissioned an in-depth study into where the market is heading, including an analysis of their music sales figures to date, a massive survey into the attitudes of 2,000 under 24 year olds to music buying and the views of several big name players in the music industry. This report summarises the findings – and contrary to the Arctic Monkeys suggestion, it seems the mobile music market is about much more than ringto ...
is mobile the future of the music industry
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