MUMBAI: The music retail business in India will touch a figure of Rs 49.54 billion by 2010, according to Online and mobile music company Soundbuzz . A sizeable chunk of this revenue, Rs 45.04 billion, not surprisingly, will come from the mobile music business.
Mobile music will constitute more than 85 per cent of all music purchased by 2010 in India, claims the recently released study by Soundbuzz. Mobile music outsold physical music in Asia-Pacific in 2007, and in India by end 2006 In the Asia-Pacific digital music growth is fuelled by mobile music purchases, which will comprise 65 per cent of all music purchased in the region within two years, the study indicates.
While the mobile sector continues to make strides, projections about the growth of the online music business are dismal. The Soundbuzz data indicates that online music will contribute a mere one crore in revenues by 2010 to the industry. The data, compiled in September 2008, defines online music sales as legally distributed music which is downloaded to PC, iPod or MP3 player.
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Physical music sales continue their downward spiral, not only in India, but globally as well as in the Asia Pacific. In India, the figures of physical music sales are expected to go down from Rs 6.50 billion in 2007 to Rs 5.50 billion by 2010 The biggest growth will come in from mobile music revenue in India – from Rs 10.27 billion in 2006, to Rs 20.27 billion in 2007, to Rs 45.04 billion in 2010.
It is this projected huge growth that will spur the total music retail business in India to shoot from Rs 17.82 billion in 2006 to Rs 27.47 billion in 2007 to Rs 49.54 billion in 2010.
This growth rate is higher than the projections for the Asia Pacific region – where total music retail is expected to grow from 11,200 USD in 2007 to 13,800 USD in 2010.
