Coca Cola to close mycokemusic
Tuesday, June 20, 2006
Coca Cola announced yesterday that it is to close it's British download service www.mycokemusic.com on July 31st after the shops market share reducing to 6% of the UK market.
Launch back in 2004 Mycokemusic was in that year the biggest and most popular download service in the UK. It quickly was superseeded by the behemoth Apple that tied people in to the popular player.
"In 2004, the digital music scene was just developing and the only way for Coke to offer access to music downloads was to open our own store. That's not true today and there is no need for Coke to continue to run a store," Said a statement for the company.
The Download retail market is these days seemingly dominated by Apple and Itunes and a number of digital music shops have had trouble in the last few weeks; Napsters shares plummeting despite increasing sales, independent Download shop Karma Download shutting it's doors last month. It would seem despite the hype of the Music Industry going online that it is a very difficult commercial market to exist in.