Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Sounds On-Line Says Business Better Than Planned

Timing right for music site launch

Sounds Online may have hit the music e-commerce market just at the right time if a recent report out of the US is anything to go by.

According to e-Marketer, a leading US online news magazine, Internet sales of music are expected to total 11 per cent of global music sales by 2005.

Local music retailer Sounds and its New Media partner Hyperactive announced the Sounds joint venture entertainment Internet site on Monday of last week (December 6 1999).

In its first week of trading, the site attracted 36,000 page views with sales 300 per cent above expectations the company says.

Among other things, visitors to www.soundsnz.com can buy music CDs, listen to the site’s own radio station, listen to live concerts, download music, interact with the site and watch video and movie clips.

The e-Marketer report says online music sales in 1998 represented a mere 0.4 per cent of all music sales. That figure was predicted to leap to 11 per cent — a 2,650 per cent increase — within six years.

The report quotes Market Tracking International, a London-based research firm which says in dollar terms, the figures translate to sales growing from US$170 million to more than US$5 billion.

“The figures really confirm what our research has been telling us,” commented Sounds Online’s Sean Coleman. “In New Zealand terms, if the same trend occurs here, we can expect an online music market of somewhere round $20 million. We expect to own at least half of that.

“It’s early days but we are very pleased with our initial week’s results.”

Coleman’s fellow director Mark Tierney said 36,000 page views in the first week was “music to my ears”.

“Page views is the most important e-commerce statistic representing as it does how many times people have viewed at least one page in the site. It’s also pleasing that about 10 per cent of our visitors are from outside New Zealand.

“But the bottom line is how many CDs we’re moving and frankly I’m pleasantly surprised our sales are three times what I thought they’d be after the first week.”

Already visitors to the Sounds site have access to 20,000 record titles and by March next year Coleman says visitors will be able to select from more than 600,000 titles world-wide.


ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news