27
Jul
Ringtones, games and digital radio may be the new revenue streams the music industry is seeking in facing lagging CD sales, according to Shahid Khan, a managing director with BearingPoint, Inc., one of the world’s largest business consulting and systems integration firms.
“In Europe and other regions, ringtones are a billion-dollar business, yet sales were only in the low millions in the United States during 2003,” said Khan. “The music industry must immediately look creatively for new markets and revenue streams.
Industry executives must now consider what is needed to accelerate U.S. sales, or if there are better opportunities in licensing music to games and other new forms of entertainment. Subscription radio may also be a viable business option.” [more @ www.prnewswire.com]0