Ringtones Chart

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Billboard Ringtones Chart

The mobile entertainment market, mostly for cell phone ringtones, is estimated at about $300 million annually in the United States, said Geoff Mayfield, director of charts at Billboard, who cited the number from mobile market research firm Consect.

The global market is worth about $3.1 billion, he added.

Mayfield said the industry could potentially generate plenty of revenue for music labels as more customers adapt to downloading popular music to their cell phones.

The "Hot Ringtones" chart will be compiled on a weekly basis, and Billboard's Mayfield told CNN/Money that Alicia Keys and Usher's 'My Boo' has scored the first No. 1 spot on the new chart this week.

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