According to a new report from Juniper Research, the number of mobile users who pay a monthly subscription for access to music catalogues will reach 178 million by 2015, which is more than triple the number of users doing so in 2010.
Unsurprisingly the research company said that emerging markets like China and India present a great opportunity for the industry, with more and more people accessing 3G networks. India, in particular, is seen as a strong market for music given its links to the Bollywood film industry.
Some other findings from Juniper’s report include:
- Ringtone market, which has been in decline for a number of years, will continue to do so
- Ringback tones will remain largely a phenomena of the Chinese market
- The market for mobile music videos will grow steadily over the forecast period
- Mobile music, in general, will grow strongly – reaching $5.5 billion in 2015
As usual, you can get additional information on Juniper’s report from their website.