The record labels reckon they are set to benefit big time from the growing mobile music market, having missed out for years on the bulk of the money generated from the lucrative ring tone market because, until real tones arrived, the only music people to get a cut of ring tone revenues were the publishers who owned the songs being recreated on a kids Casio keyboard for the mobile market.
I know this because the record industry's trade body - the BPI - has just said so, having compiled a bunch of stats that show that not only is the UK the biggest mobile music market in Europe, but that it is set to grow even more thanks to new developments in mobile technology. I'd give you an indepth analysis of the stats, but I'm finding it really really hard to care. Perhaps it's because I've drunk three jugs of coffee but not eaten any breakfast. So how about I just quote BPI boss Geoff Taylor instead?
Here's what he says: "The record industry's core business, working in partnership with artists to produce great new music, remains the same. But the ways in which record companies can generate returns on their investments has changed dramatically in a few short years and mobile is helping to drive that change. Just five years ago, CD sales were the recording industry's only significant source of income but digital distribution, mobile and online, has created a myriad of new business models that labels are now driving forward. Having already captured the imagination of UK music buyers, legal downloads have transformed the singles business; record labels are set to capitalise upon further developments in mobile technology in this rapidly changing business climate".