The ringtones business is still in its infancy in the US, but the interest of carriers and content providers in getting a piece of the pie, is already high. The problem is that the business model hasn't been defined yet and there's confusion in the players' role in the game.
On Reuters (via Yahoo! News) Scott Banarjee analyses the current state of the art of the US ringtones market. Up 'til now in only 5 percent of US cell phone users have downloaded a ringtone but, according to the Yankee Group, the business is expected to grow to $1 billion dollars by 2008.