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

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news