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New research conducted by mobileYouth reveals that young people in the UK will spend £150 million on ringtones, ring-back tunes and downloading full songs directly onto their mobile phones.
With CD single sales still in decline, the ringtone looks set to become the number one marketing tool for record companies and artists to launch the CD album. As a result, mobileYouth reports that in future the playback of music on mobile phones will have a significant influence on how music is developed and marketed.
mobileYouth believes that the eventual disappearance of CD singles will make it easier for emerging artists to raise their profile by releasing a ringtone or full track download than releasing a single CD.
With the global market for ringtones and mobile phone downloads to be worth in excess of £2 billion the incentive is there for record labels and artists to develop music that will complement its release as a ringtone or real tone. The amount of money spent on mobile phone music downloads will this year account for 16% of the entire amount spent on music. By 2007 this will increase to almost a quarter of all music spend.
The UK teenager will spend on average £26 a year on music for their mobile phone.
The evident popularity of mobile music downloads could yet lead to further implications for the future, as whole genres of music, such as rock and guitar, which do not convert well into ringtones disappear.
The statistics are being revealed as part of mobileYouth’s annual research into young people globally.
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Published on: 12:00AM on 6th April 2005