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Mobile Music
Q Research Ltd., April 2007, Pages: 24
This report looks at how young people consume music now, and how that is set to change with the introduction of the iPhone and similar devices. What impact will this have on the music industry?
Digital consumption of music is on the rise. Music lovers have increasing choices about the way they buy and consume music. With nearly 500 online music services available in over 40 countries worldwide consumers can access over 4 million tracks simply at the click of a mouse. This access is enhanced by the gains over the past few years in navigation and storage which creates a powerful user experience and has catapulted music into the digital age.
Music companies are now also embracing social networking sites such as MySpace and YouTube as an important part of their marketing mix in a bid to reach the youth market.
According to the recent Digital Music Report 2007 from IFPI (need it in full first and then abbreviation), record companies' digital music sales are estimated to have nearly doubled in value in 2006, reaching a trade value of approximately US$2 billion. Digital sales are estimated to have grown from 5.5 % in 2005 to around 10 % of industry sales for the full year 2006. Mobile music accounted for about half of global digital revenues in 2006, and in 2007 this is expected to grow with the launch of the iPhone and next generation music capable handsets from other mobile handset producers.
This new digital environment is changing the way young people perceive and interact with music. With the majority of UK young people aged 12 and over owning a mobile phone, the prospects for digital music growth in this key market are strong. To help develop services to target this important group, it is crucial to understand their attitudes to mobile music devices, and their music listening preferences.
Companies mentioned:
EMI
Myspace
YouTube
Apple
Nokia
Offical UK Chart Company
Omniphone
Virgin
Grove Mobile
Universal Music
Vodafone
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