Mobile Music To Resuscitate The Indian Music Industry: Study

FE: Mobile phone music is expected to resuscitate India's music industry which has shrunk from Rs 1,400 crore ($318 million) to Rs 1,000 ($227 million) in the last four years. "Mobile music now contributes around 5%. It is expected to grow to nearly 23% by 2010," says KPMG India associate director, corporate finance, Anindya Roychowdhury.
Over the next five years, the music industry is expected to regain much of the lost ground by crossing the Rs 1,300 crore ($295 million) mark, according to a KPMG report. Much of this growth will come from the growth of mobile phone music.
The music share pie goes like this in India: Music companies pocket 25% of the revenue from each download while 45% goes to the operators, 15% goes to the government as WPC/DoT charges, 12% to service providers and 3% to ringtone creators, according to this story...