December 29, 2004
Ringtones drown out CD singles
The ringtone, an irritant to many, has become the music purchase of choice for teenagers after generating more than double the income of CD singles this year, reports The Times Online.
"Ringtones generated about £120 million of business during 2004, according to figures released today by the financial services company KPMG. Sales of CD singles continued to plummet, with recorded sales worth £55 million, down by 15 per cent.
With digital replicas of hits now available as “truetones”, the ringtones market is set to outperform CD singles and the nascent online download market in 2005.
The global ringtone market was worth an estimated £3 billion this year and contributed to Britain's youth mobile phone market valued at £3.2 billion. Ministry of Sound, the record label, estimates that it will generate £15 million of income from ringtones in 2005."
Interesting:
[...] But ringtones present a challenge to Britain's rock bands. There is not a single guitar-based hit in the year's Top 20. Music critics claim that pop singles such as Britney Spears's Toxic are being created around a simple nagging riff with ringtone sales in mind.
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