Staggering iTunes Sales — Good for Apple, Not So Much for Music Publishers
iTunes song sales have reached a number that is more than three times the world's population. Apple Inc. (NASDAQ: AAPL) has reinvented the music distribution, but not in a way that has benefited publishers, who often accuse Apple of taking too large a cut of sales revenue. Nevertheless, the figure is staggering.
Apple announced:
The iTunes Store is the world's most popular music store with a catalog of over 26 million songs and over 25 billion songs downloaded, and is available in 119 countries. The iTunes Store is the best way for iPhone®, iPad®, iPod®, Mac® and PC users to legally discover, purchase and download music online. All music on the iTunes Store comes in iTunes Plus®, Apple's DRM-free format with high-quality 256 kbps AAC encoding for audio virtually indistinguishable from the original recordings. iTunes in the Cloud lets you download your previously purchased iTunes music to your devices at no additional cost, and new music purchases can be downloaded automatically to your iOS devices.
Filed under: 24/7 Wall St. Wire, Entertainment, Internet, Software Tagged: AAPL
