Chrysalis Group Plc has unveiled details of a new service that delivers music to mobile phones. At the same time, the London-based music and media company suggested it may spin-off its underperforming
Chrysalis Group Plc has unveiled details of a new service that delivers music to mobile phones. At the same time, the London-based music and media company suggested it may spin-off its underperforming books publishing unit.
The new music2mobile content brand has been developed by Chrysalis Mobile, the digital music division it established earlier this year to exploit the burgeoning market for mobile content.
Music2mobile content will be available through Web and mobile Wap sites, but will principally comprise a range of branded products that will be promoted via key retail partners. Content will initially include ringtones, real tones and images, while full-song downloads will also be added as the cell phone market matures.
Carphone Warehouse will become the first major retailer to launch and offer music2mobile products through its U.K. stores. The cell phone specialist retailer plans to step up the new brand's presence across its network of outlets ahead of Christmas.
Meanwhile, Chrysalis warned its group results for the year to Aug. 31 will take a £1.5 million ($2.7 million) hit as a result of expected writedowns in the asset value of its books operations.
In a trading statement issued yesterday (Sept. 23), the company said its Chrysalis Music division - comprising its music publishing, recorded music, and wholesale distribution activities -- finished the year in line with expectations and "has had an encouraging start to the current financial year."
Its like-for-like full-year radio revenues are expected to be up 20% to £67 million ($120 million). In the first quarter of the current year, radio revenue growth is expected to be in the "high single digits".