How Ringtones Have Come And Gone As A Business(0)
An interesting report landed in my inbox this week about the ringtone industry written by research firm IBISWorld. Apparently, the ringtone industry is all but dead. This got me wondering whether it implies that the cycles of innovation and creative destruction are accelerating and getting even shorter for Silicon Valley.
What intrigues me is how quickly the ringtone business came and went. According to the IBISWorld report, it was indeed an unusually brief cycle. For a short moment, this seemd like the one bit of good news the music industry could count on. But no more.
According to the report (sorry, they didn’t provide a link to it online):
“Music ringtones practically boomed overnight, but with two consecutive years of decline it seems the industry is exiting just as rapidly as it entered,” said Toon van Beeck, senior analyst with IBISWorld. “And with the ringtone market already reaching its decline stage, its life cycle is only expected to last about 15 years.”
What changed so quickly? According the report, just about everything. Read the rest of this entry »
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