Personalising mobile phones with new ring-tones looks set to continue as the most successful mobile phone advancement over the next few years, as the market in Western Europe is set to peak at a staggering $2.4 billion in 2007.
Although the market will peak in 2007, it’s expected that by 2008 the industry will stabilise as revenues drop slightly to $2.3 billion.
Revenues for ringback tones alone are expected to hit $721 million this year in Western Europe but the surprising success of this market hasn’t been without its critics, many who see the industry ‘as a fad or a bubble that is going to burst.’
On the other hand, music downloads remain largely a longer-term investment and its expected that very little money will be spent on this service in the next two years but is set to generate $400 million in Western Europe by 2008.