According to a study by The Arc Group, a London-based telecommunications consulting group, sales of mobile phone ringtones grew 40 percent in the past year. Ringtones, which compose about 10 percent of the global music market, began as a marketing ploy for music labels and mobile phone companies. The marketing ploy proved profitable—music labels, artists, and mobile phone companies divide ringtone revenues, which amounted to $3.5 billion last year. An analyst for The Arc Group said sales of ringtones will continue to rise to $5.2 billion through 2008. Text messaging, however, outshined ringtones last year, generating over $40 billion for mobile phone companies