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L.N. Revathy

The survey says that India would be next only to South Korea in surpassing the physical music sales.

Coimbatore March 22 Digital music (online and mobile), according to a Soundbuzz Pte Ltd study, would outsell physical music globally by 2009. But in India, the trend is visible even now with the mobile music sales close to surpassing the physical music revenues before the close of 2007.

The global revenues from mobile music are expected to cross $27 billion in 2010 from $7.27 billion two years ago. The total physical music sales, on the other hand, are expected to drop from $29.85 billion in 2005 to $18.09 billion in 2010.

The survey has predicted that India would be next only to South Korea in surpassing the physical music sales.

The findings reveal that the Indian music industry would continue to grow steadily from Rs 1,450 crore in 2005 to Rs 4,100 crore in 2009, with the growth fuelled by mobile music, accounting for 88 per cent of the music industry's revenues.

The preference for digital music is expected to slacken online music (legally distributed music downloaded to PC, iPod or MP3 player) sales. Soundbuzz anticipates the global online music sales to remain minimal over the next three years rising from $0.90 billion in 2005 to $7.53 billion in 2010.

Role of ringtones

The findings further indicate that ringtones would be the dominant digital format in terms of sales. Recorded mobile music is also expected to grow dramatically to $3.9 billion by 2009 from $210 million in 2005, driven mostly by ring back tones and full tracks.

(The recorded music market consists of consumer spending on album and single sound recordings and music videos distributed in traditional formats and sold in record stores.)

More Stories on : Marketing Research | Music & Dance | Telecommunications

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