Mobile Phone music industry: Rising in Asia

October 17, 2006 – 5:56 pm

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M for MONEY and M for MUSIC, I think the mobile music industry is now finally getting the sound of money in their music. Started with nothing five years ago, the mobile music industry has turned into a major money maker in Asia-pacific. According to a report published in cellular-news.com

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.”

Asia pacific countries like India, China, and South Korea hold top places in terms of the number of cell phone users. The mobile music industry first took off with ringtone music. Now, users can listen to full music tracks. A research firm named, In-stat has recently conducted a survey and they have revealed some amusing trends. The survey found out that in South Korea, the mobile music industry had grown bigger than the conventional music industry. In China, by 2010, the mobile music industry will have revenue of US$2.8 billion. Another survey on consumers showed an increasing preference toward cell phones with music listening facilities.

From the beginning, mobile phone technology has been evolving at a very rapid pace. Now days, a mobile phone has become multifunctional. Hence, this surge in mobile music industry is not very unexpected. Mobile phones equipped with music play back has made life just M-U-S-I-C-A-L and the effect of that music is very positive on the mobile music industry of Asia pacific.

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