Take 40 targets booming ringtone market amanda swinburn
Australians will soon be able to download any song in the charts to use as a mobile ringtone following a new deal between online and mobile music retailer Soundbuzz and MCM Entertainments Take 40 Australia.
The two companies have joined forces to target the booming youth market for mobile phone downloads. According to IRG Research Group the market for mobile content was worth $98m in 2004, with music content such as downloads making up 69% of the revenues.
Take 40 interactive manager Adam Leys said ringtones and wallpapers are increasingly popular among the youth market and the group partnered with Soundbuzz to provide internet users with straight forward delivery and billing.
At Take 40 we recognised that the really hot songs targeted to a youth demographic, with an immensely recognisable tune would work fantastically as ringtones and spike downloading on our website, he said.
Soundbuzz general manager Paul Buchanan said Australia has the seventh largest music industry in the world, in terms of revenue generated and digital music is growing here.
Globally, he says the market for ringtones was worth US$5.7bn in 2004 and is predicted to reach a staggering US$9.4bn by just 2008, he said.
