Download this to your combination pager/two-way/cell phone/PDA/pacemaker and smoke it: Ring tones (ring tunes?) are making money.
It seemed a joke to many, charging up to $1.50 or more for the right to download a snippet of a favorite song to your cell phone and hear it instead of a standard ring, especially since the idea had started out as a novelty freebie.
But the idea gained traction, as they say. And now, according to a Reuters report, the market for custom ring tones is upwards of $1 billion annually.
“This is probably the only upside for the music industry at the moment,” Reuters quoted one London analyst as saying, noting that $71 million in royalties had been collected in 2002—a 58% gain over the previous year. Ring tone royalties are typically in the 10-15% range.
And that’s not all. The market for ring tones is likely to grow, as new, polyphonic phones become more sophisticated and are able to play back better-sounding song snippets.
Wonder if Thomas D. Mottola’s phone plays “Maneater”?
THE MUSIC OF CLIVE COMES ALIVE AT CARNEGIE HALL
That's what friends are for. (5/1a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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