/24-7PressRelease/ - NEW YORK, NY, October 20, 2006 - Benzer3.com brings you latest hits and best ring tone of the date. The boom in the mobile ringtone business had finally run out of steam. The society is inviting musicians to record ringtones.
The Ringtone Society was founded 18 months ago in the Dutch town of Tilburg and receives funding from the Government of The Netherlands. The ringtone market grew 500 percent growth worth 177 million pounds between 2000 and 2005 as tinny reproductions were made of everything from chart hits to television theme tunes.
A new survey by music consultancy MusicAlly is predicting that within the span of 4 years, the turnover will slide to just 78 million pounds - a shrink of 99 million pounds. Not only that the survey also forecast that the market is set to shrink almost 20 per cent by this year alone, reports The Sun.
Universal Music UK, comments yesterday, which admitted it, had seen its first decline in revenue from ringtones over the past six months. Ringtone revenue growth had raised high hopes both for mobile operators - struggling to make a return on investments in 3G - and for record companies, in their efforts to offset falling revenues caused by piracy.
Both Universal and MusicAlly said last year's controversy surrounding hidden subscription charges for certain ringtone services was partly to blame.
Another factor is that polyphonic ringtones are being phased out as handsets get more sophisticated. Some handsets are now capable of storing up to 1,000 MP3 files which enable a user to access up to 100 albums of music.
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