Performing rights organization BMI released its annual projections for U.S. ringtone sales, for the first time forecasting U.S. ringback market projections as well. BMI anticipates the 2007 music ringtone market will decline to $550 million in retail sales, down $50 million from 2006; the decline should be offset in part by ringbacks, which the organization says will generate approximately $65 million this year. BMI's estimates are based on more than 520 million individual ringtone transactions from across more than 325 mobile content retail storefronts.
"We believe that the ringtone market's growth has leveled off and the novelty phase has ended," said BMI VP of new media and strategic development Richard Conlon in a prepared statement. "We envision increased revenue opportunity in the streaming sectors of the mobile entertainment market, ranging from ringtones to audiovisual cellular phone TV-style offerings." - Jason [1]
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[1] mailto: jason@fiercemarkets.com