NEW YORK (July 2, 2008)
—Weighed down by plummeting CD sales, the global
recording industry is struggling to find its footing in a rapidly changing
marketplace. Physical music spending is down as online and mobile formats gain
momentum. eMarketer estimates that online and mobile will grab about 40% of the
total music spend in 2009.
Current developments such as Vodafone’s deal with MySpace
to launch “Vodafone Music Reporter” help substantiate the notion that the music
landscape is changing rapidly. The “Vodafone Music Reporter,” an interactive
profile to promote its music services hosted on MySpace, builds on the
successful collaboration of both companies, which began in 2007 with the launch
of MySpace on Vodafone mobile. The new venture will create communities for all
music fans in the UK, Germany, Spain and Italy.
Music fans are longing for communities that offer a unique
music experience and a mobile music platform that gives fans of its music
events the opportunity to be involved online, says the eMarketer report,
“Recorded Music: Digital Falls Short.”
Marketers should be looking to enhance the customer
experience by bringing together online, mobile and user-generated platforms
such as blogs where fellow users can interact.
For more information, see Media Contacts below.
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Director of strategic communications, eMarketer
Communications coordinator, eMarketer
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