A-Pac mobile music revenues soaring

MUMBAI: From almost nothing five years ago, the mobile music market in Asia Pacific grew to $3.3 billion in 2005, and will reach $9.3 billion by 2010, according to market research firm In-Stat.

The breakthrough years for mobile music in Asia Pacific will be 2007 and 2008. Growth drivers include large markets like China and India reaching a critical mass of mobile subscribers and 3G services becoming prevalent regionwide.

“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. As consumer preferences change, the future growth of the mobile music industry rests on ringback tones and full music tracks,” said In-Stat director Bryan Wang.

Research by In-Stat found the following:

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  The size of South Korea’s mobile music industry has already surpassed the country’s conventional music industry.
  
  
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  China will soon assume prominence in the mobile music market, recording $2.8 billion in mobile music revenues by 2010, trailing only market leader Japan, which will have $3.4 billion in revenues in 2010.
  
  
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  Sixty per cent of respondents to an In-Stat consumer survey indicated that they had a phone capable of some form of music playback.

The research, “Mobile Music In Asia/Pacific: From A Ring To A Roar,” covers the market for music via wireless services in the Asia/Pacific region. It contains forecasts of mobile music revenue regionwide, as well as by several major countries through 2010. It also includes the results of a 2006 consumer survey that examines the attitudes and desires of Asia/Pacific wireless users regarding mobile music services.

In addition, it examines market drivers and constraints, along with recent developments and business models.