Ringtone Market Hits The Jackpot With Teen Cell Phones author:Samuel Miton source_url:http://www.articlecity.com/articles/gadgets_and_gizmos/article_25.shtml date_saved:2007-07-25 12:30:10 category:gadgets_and_gizmos article:
The ringtone industry is striking a popular cord with the teenage market.
This group, mostly 13 to 24-year-olds, likes to purchase their favorite tune or sound without paying the high price for a CD.
This segment isn't afraid to drop lots of discretionary income to download monophonic or polyphonic sounds, which makes the ringtone industry very happy.
According to RealityTVWorld.com, todays teens are willing to substitute cell phone minutes for the latest ringtone.
This behavior places this age group in the largest population of ringtone purchasers.
Since over 40% of cell phone users fall into this group and have disposable income, the ringtone industry is making the most of this opportunity.
The market is so large among this young population that, according to a study by Wireless World Forum, young people are spending eight times more on mobile phones than music.
Currently, trends in the U.K. show that the ringtone market holds 10% of the total music market.
This population's buying power is equally impressive in the United States where teenagers spend nearly as much on ringtones as on text messaging.
The sale of ringtones worldwide adds up to