London, UK (November 15, 2006)–The mobile phone is set to become the retail channel of the future for music fans in the UK, according to a report published by 3, the UK mobile media company. 3’s research was conducted by youth communications specialist agency, Dubit.
The report investigates how the UK’s young people are using new technology to revolutionize the way they access and listen to music and reveals some startling results for the music industry:
– Music purchased on mobile is the fastest growing music format, up 100 percent on 2005.
– Mobile could overtake computer based music purchases within 5 years.
– Six out of 10 under-24-year-olds have purchased music via a mobile.
– ‘Downtime’ is becoming the new commerce space for music retailing – two thirds say they buy on public transport, and half say they’re interested in buying new tracks on the way home from a club.
– Paying for music via mobile bill preferred to cash or credit cards by 50 percent of under-21s.
– The compact disc will die out within five years say 60 percent of under-24s.
– Downloading has environmental benefits according to 85 percent under-24s.
More than 60 percent of under-24s say they have downloaded music on a mobile because they are no longer happy to wait until they visit their high street record shop to buy a new track. 3’s own sales data show that the most popular time of day for purchasing music is between 6pm and 11pm, when most traditional music shops are closed.
According to the report, if mobile sales continue to grow at the same pace they could rival – and potentially overtake – computer-based downloads in just five years.