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.
According to telecoms expert, Ovum, mobile phone personalisation has proved to be the most successful form of content over mobile phones and will remain the most important market for generating revenue.
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.
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