Ring tones slow to rock U.S. market

With a possible billion-dollar windfall at stake, U.S. music companies are eagerly awaiting the full-blown development of the market for ring tones.

But the U.S. appetite for ring tones has not developed as quickly as in other markets, and no company has emerged to do for ring tones what Apple Computer has done for digital downloads with iTunes, reports News.com.

"U.S. firms spent $81 million last year on building mobile music services--including the marketing of ring tones--according to market research firm Frost & Sullivan.

But that's a fraction of the marketing money spent in Europe and Japan, where companies last year invested $1.15 billion and $720 million, respectively."

emily | 2:36 PM | Random Stats |
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