Music refill on the go
Mango Digital Vending Machines Network Pvt. Ltd (Mango DVM) plans to launch a network of 50 digital music vending machines across Chennai by early next year, part of a very ambitious plan to install 400,000 vending machines across India by the end of 2010.
These kiosks—located at airports, bus and railway stations as well as retail locations—will sell digital music for Rs12-15 a song.
Digital music sales are growing rapidly in India, making it the second-largest market for digitized music in Asia after South Korea. According to a survey by Soundbuzz Pte. Ltd, a Singapore-based digital music services provider, more than 88% of the total projected revenue of Rs 4,100 crore the Indian music industry will earn by 2009, will come from the sale of digital music, with the sale of digital music for mobile devices in India expected to touch Rs 3,601 crore by 2009, up from Rs 450 crore in 2005.
“CD sales are dropping like a stone, but not music sales,” says Atul Chitnis, who is a mentor to online independent radio station Radio Verve in Bangalore. Industry estimates indicate that sales of CDs, audio cassettes and other physical media in India are declining, halving from Rs 1,000 crore in 2005 to Rs 500 crore by 2009.
[Via]
Filed under: Business, Ideas & Innovations, India, Statistics