Ringtones: A cashcow in Western Europe
Music Industry News - as it happens
Source: Mi2N - December 18, 2001
A recently Strategy Analytics (www.strategyanalytics.com) report, "Western European Icons & Ringtones Market Snapshot," highlights the cashcow which the ringtone/icon market has become for the music & wireless industries in Western Europe. In fact penetration of the ringtone market has already reached 25% of cellular users, with the overall market having grown "considerably" in the last year - and expectations that by 2003 the market be worth $230 million. Strategy Analytics predicts further that the price for ringtones and icons will continue to fall over the next three years from its current $1 to $5 pricing.
"End-user demand is being driven by the users' need to differentiate and personalize their phones. This need is the greatest in the youth segment where downloading ringtones and icons onto handsets is currently significantly weighted, both in terms of penetration and frequency. Older users are more likely to download ringtones on a more casual basis," commented David Kerr, Vice President, Strategy Analytics Global Wireless Practice.
Related News from Mi2N:
» Strategy Analytics: Western European Ringtone & Icon Market To Reach $230 Million In 2003
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