Breaking: Steve Jobs Announces iTunes Ringtone Store *faints*

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Hot of the presses and live on stage from Moscone Center, Steve Jobs just announced iPhone Ringtones will be available for download via iTunes, in an updated release rolling out later tonight.

Keep watching.

[update] According to his Steveness, ringtones will cost $.99, in addition to the price of downloaded tracks. Uh, so that means I have to buy the song and pay another buck to get the ringtone? Not liking that arrangement.

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Breaking: Steve Jobs Announces iTunes Ringtone Store *faints*

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Agreed. Personally I could give a rat's posterior for ringtones in general. But having to pay twice the price to hear Willy Nelson sing every time someone calls me is a luxury I can do without.

If you already own the music, I would think the ability to edit it into a ringtone should be free to all users. I agree, we shouldn't have to pay twice. That's just rediculous. My only concern now is will 3rd party ringtone programs be somehow disabled? hmmmm

Even worse then the fact you have to pay 200% the song price to have it as a ring tone:
It appears you cannot make ringtones out of any music not purchased from the iTS!??!?!?!?!
So WHY exactly, cannot I not make a ringtone from one of 18,000 songs from the 1,500+ CD Albums (that I legally own)!?!!!???
Even IF I thought it would be cool to have a song as a ringtone, I would be thinking, hey for $0.99 I can just buy another FULL LENGTH SONG!
Sorry, other then the rare, pre-teen, ringtone junkies out there this is a bust...

You can guys, head over to Ambrosia Software and pick up a copy of iToner. $15 and you can add as many ringtones as you want from any source you want.
I went over and downloaded it as soon as I found out that Apple was selling ringtones for 99¢ above the cost of the song.

This just in... iTunes 7.4 wipes out any ringtones added with iToner. Ambrosia Software is aware of this and are working on a fix now. They should have a new version pretty soon.

Just in case anyone reading this cares... Ambrosia Software just released iToner 1.0.1 which fixes the software to work with iTunes 7.4. So now you can have ringtones on your iPhone from *ANY* song for just a single $15 that is sent to a really great group of software developers instead of the RIAA/Record Labels!
For me, this is a great deal!