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Business News Digital
Omnifone reveals some stats about emerging markets
By Chris Cooke | Published on Thursday 20 February 2014
Omnifone, the company that powers various digital music platforms, perhaps most notably the Sony Entertainment Network’s streaming service, has published some stats about its operations in non-Western markets, which accounted for 20% of overall streams in 2013, up from 14% in 2012. Streams in these countries were up six-fold in the last twelve months – the firm says – as an increasing number of users in emerging markets opt for legit music services, mainly via mobile.
Says Omnifone boss Jeff Hughes: “The data we report today shows there is a wealth of potentially untapped opportunity for global digital music services in markets where connected mobile device adoption is on the up. Incomes are increasing and local rights owners are more supportive than ever of digital platforms which are creating the right balance of supply and demand”.
Though fully capitalising on opportunities in these markets may require refining the product, Hughes added, telling CMU: “Technology aside, domestic catalogue availability is vital for successful expansion into these new markets. Equally important is pricing that reflects the economic conditions in emerging markets. We envisage a new breed of as yet unknown business models will start to emerge as rights owners and digital platforms respond to the financial needs of consumers. This will increase the need for flexible technical and commercial structures around global services”.
