Why are ringtones expensive?

I was looking through the ringtones on iTunes today when something struck me as odd. A 30 second ringtone sampled from a current chart tune will cost me 99p. The whole tune will cost only 79p. How come?
If you have a mac then I’d suggest buying the whole tune and trimming it down to size using Garageband. There are instructions on how to do this in this very blog. Use the search feature to find the post.

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