"Blingtones" go platinum
Believe it or not, the Recording Industry Association of America does something besides sue music fans. Most recently, it's extended its gold- and platinum-album awards to cell-phone ringtones. The Associated Press dubs the first-ever awards -- which substitute a gold or platinum cell phone for the customary precious-metal disc -- "blingtones." In total, 84 musicians received golden cell phones for sales of 500,000 or more ringtones, 40 received platinum ones for sales above a million, and 4 received multiplatinum awards for sales that topped 2 million.

About 10 percent of music-industry revenues now come from ringtones, making hot-selling blingtones an increasingly important part of the business. Even Sun CEO Jonathan Schwartz took notice, wondering if the industry would need to invent a level above multiplatinum, since the audience for ringtones consists of more than a billion cell-phone users worldwide.
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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.