Ringback tones are a great source of revenue for telecommunications operators in Nigeria. This year alone, South African telecommunications giant MTN anticipates $70-80 million in revenue, a 50% growth.
“When you call a Nigerian number, there’s a good chance you’ll hear music playing. Ringback tones cost just 25 cents a month, but artists, record labels, and telecom companies are raking in millions.”
Watch the CNNMoney video clip below to learn more about this lucrative music licensing scheme for the music industry and telecom operators.
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