New York, NY (April 11, 2006)–BMI released its annual projection for U.S. ringtone sales in 2006, predicting that the music ringtone market will surpass $600 million in retail sales, up from $500 million in calendar year 2005. BMI pegged the market at $245 million in 2004 and $68 million in 2003, respectively.
BMI’s estimates are based on more than 360 million individual, detailed ringtone transactions analyzed by the organization over the past seven consecutive quarters. BMI tracks census sales data on more than 325 outlets for the sale of mobile entertainment in the U.S.
“We see the market maturing in 2006 with growth fueled by an increase in multimedia handsets and more aggressive marketing by wireless carriers,” said BMI vice president of business development, Richard Conlon. “We believe that the market will grow by 20 percent for the ringtone sector alone in ’06. We also see 2006 as the make or break year for the ringback tone market, which is still in the novelty phase in the United States. Additional music-based revenues should be realized from mobile subscription music services, which have just begun U.S. roll out.”
Since entering the market in 2001, BMI has tracked and processed more than 360,000,000 individual ringtone sales by title, artist and gross retail revenues generated. BMI’s database of earnings and titles is believed to be the most comprehensive in the industry. BMI uses the data that it collects to distribute public performance royalties on a pro-rated basis to its affiliated songwriters, composers and music publishers.