AsiaPacific Mobile Music Revenues Soaring
From almost nothing five years ago, the mobile music market in Asia/Pacific grew to US$3.3 billion in 2005, and will reach US$9.3 billion by 2010, reports In-Stat. The breakthrough years for mobile music in Asia/Pacific will be 2007 and 2008, the high-tech market research firm says. Growth drivers include large markets like China and India reaching a critical mass of mobile subscribers and 3G services becoming prevalent region wide.
"Ringtones have been the primary driver for mobile music growth in the past, but this will change as new mobile phones equipped with digital music file playback capability create a new market," says Bryan Wang, In-Stat director. "As consumer preferences change, the future growth of the mobile music industry rests on ringback tones and full music tracks."
Recent research by In-Stat found the following:
- The size of South Korea's mobile music industry has already surpassed the country's conventional music industry.
- China will soon assume prominence in the mobile music market, recording US$2.8 billion in mobile music revenues by 2010, trailing only market leader Japan, which will have US$3.4 billion in revenues in 2010.
- 60% of respondents to an In-Stat consumer survey indicated that they had a phone capable of some form of music playback.
Posted to the site on 17th October 2006
