EI digital clients to gain €160m by year end

The mobile ringtone market is expected to be worth €5bn by 2008, according to industry analysts, with Ireland's share of this currently standing at €16m.

Enterprise Ireland has invested €2.5m in the Digital Media Incubator, which focuses on research and development in this area.

EI Executive Director Peter Coyle said today: "Although entertainment is a relatively new sector and is currently in the early growth stages, the potential for enormous growth is remarkable.

"The accumulated revenue for Enterprise Ireland client companies within the digital media entertainment sector is projected to be €160m by the end of 2004. These same revenues also have the potential to grow to at least €230 million at the very minimum by 2007," Coyle added.

Photo Messaging is another strong growth area which is predicted to grow to €2bn in four years' time, the O2 Digital Media conference heard in Dublin today.

The function of these conferences is to prioritise the best strategies the industry should undertake in order to maximise competitiveness, growth and return on investment.

Damian Ryan, chairman of Digital Media Intelligence said today: "A panel of experts will discuss Ireland's future in broadcasting and how best digital content providers, telecommunications companies and other stakeholders will work together.

"Another focus will be on recommendations to future-proof the entertainment industry and its players," Ryan added.

This is the third year of the O2 Digital Media Conference and the focus this year is on broadcast, entertainment, film and music, as well as wireless and gaming.