BMI Forecasts U.S. Ringtone Sales to Hit $500 Million This Year
NEW YORK , NY -- Feb. 7, 2005 -- BMI, the U.S. performing rights organization representing more than 300,000 songwriters, composers and music publishers, released its sales projections for ringtones in the United States market today. BMI predicts that the market will surpass $500 million in retail sales, up from $245 million in calendar year 2004 and $68 million in calendar year 2003. BMI bases its projection on census-based sales data that it aggregates from more than 225 different outlets for the sale of mobile entertainment.
“We see the growth trend in ringtones and mobile entertainment continuing through mid 2006,” said BMI Vice President of Business Development, Richard Conlon. “We believe that the market will double for the ringtone sector alone. Any revenues derived from the ringback-tone services and mobile subscription music services, which have just begun to roll out in the U.S., will be incremental.”
Since entering the market in 2001, the company has tracked and processed more than 150,000,000 individual ringtone sales through the third quarter of 2004 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-rata basis to its affiliated songwriters, composers and music publishers.
Founded in 1939, BMI is an American performing rights organization that represents more than 300,000 songwriters, composers and music publishers in all genres of music. Through its music performance and reciprocal agreements with sister organizations around the world, it grants businesses and media access to its repertoire of approximately 4.5 million songs and compositions.
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