Business

SigEx Ventures : Apple says iTunes sales top 3 billion songs
by Delia Cruceru

Apple announced that its online music store iTunes reached sales of 3 billion songs. Downloading one song from the online music service costs $0.99, which means iTunes sold music of $2,970,000,000. Apple has a deal with the music industry giving them every cent for the downloaded music, but they make money from selling iPods, gaining power. According to a consumer surveys by The NPD Group, Apple surpassed Amazon and Target to become the third largest US music retailer, behind Wal-Mart and Best Buy. The Cupertino based company is the only one from the top 3 retailers that sales digital music files, meaning this sector will grow fast, but that also means that sector of CD sales will fall. iTunes was launched in April 2003 and until February 2006 it reached sales of 1 billion songs. At the start of 2005 Steve Jobs, CEO of Apple, told that they were selling 1.25m track/day, annualising at a rate of 0.5 billion tracks a year. At the end of 2005, they became the 7th largest US music retailer. Six months ago surpassed the 2 billion tracks-sold mark. The ranking was based on units sold, not revenue from sales, and counted every 12 tracks purchased online as equivalent to an album in compact disc format.

related story: http://www.stuff.co.nz/4148898a6026.html

by Delia Cruceru for SigEx Ventures (http://sigexventures.com)

SigEx Ventures's matrix of properties are quickly becoming leaders in digital telebroadcasting, free content delivery allowing people to easily talk, view, upload and share through free online TV broadcasting, free unlimited global calls, video blogs and SMS. SigEx Ventures invests in projects deploying "free" to add-on royalty revenue models

posted by Blog TechSource @ 1:44 PM