From Digital Music News:
It’s the same reason why CDs are still selling billions, years after their prime. Technology simply moves faster than consumers, and older formats die hard. Which is why ringtones still accounted for $277.4 million in revenues last year – in the US alone – according to stats just released by the RIAA. That compares to $241.0 million in revenues from the likes of Spotify, Rdio, Rhapsody, MOG, and ilk, combined.
Continue reading the rest of the story at Digital Music News.