News
Ringtone sales shrinking by 15%
By: hiphopblog.comPosted On: 09/29/2009 10:03 A
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Kids, we blame you for this bit of news. Because you and your cousins have stopped downloading Soulja Boy and Rihanna songs like you used to, the ringtone market is heading towards its second straight year of declining sales.
Kids, we blame you for this bit of news. Because you and your cousins have stopped downloading Soulja Boy and Rihanna songs like you used to, the ringtone market is heading towards its second straight year of declining sales.
According to IBISWorld, a research firm, ringtone revenue has shrunk by 15% to $750 million, down from $880 million in 2007.
"Mobile Phones are now truly wireless Internet devices and allow consumers to download full songs for ringtones rather than the 30-second versions available in the past," said Toon van Beeck, IBIS' senior analyst. "Providers like iTunes and Amazon.com have revolutionized the way we buy and use music, driving consumers to hang-up on ringtones."
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