The market for music played via mobile phones is set to hit USD7.3bn in 2011, up from USD3bn by the end of this year, according to eMarketer.
This figure has already more than doubled from USD1.7bn in 2007, thanks to mobile operators using popular music for services such as ring tones, audio downloads and streaming services. Several phone companies are already catching on to the trend, providing services such as Vodafone’s Music Reporter, eMarketer notes.
Sales of mobile music will even start to catch up with the online music market, which is set to rise from USD4.1bn this year to USD7.5bn. Together, these two categories will account for 56% of total music spend in 2011.
However, poor sales of CDs and audio DVDs will account for the total music market dropping from USD27.9bn to USD26.2bn over the same period.