LONDON-The worldwide ring-tone market totals an astounding $4 billion, a number that will likely draw music companies like BMG, Sony Music, EMI, Warner Chappell and Universal into the wireless market, according to new research from consulting company Strategy Analytics.
The firm said the ring-tone market is set for consolidation, as major record companies will move to strengthen their position and monophonic ring tones evolve into more advanced technologies.
“Although many operators missed the initial ring-tone opportunity by failing to anticipate the demand for first-generation ring tones, they are now starting to improve their competitive edge through aggressive pricing and through the development of improved data strategies,” said David Kerr, vice president of the firm’s Global Wireless Practice. “This includes supporting the widest possible range of mobile phones, offering a variety of flexible payment methods, increasing consumer awareness, and partnering with key music brands and artists.”
