Another milestone for Apple. 10 billion songs have been downloaded on iTunes. 14 hours ago, Apple officially confirmed that Apple’s song download counter hit the mark. Congratulations iTunes! It’s really a remarkable milestone. The countdown to the 10 billionth song was started earlier this month, and it was Apple’s way of celebrating such a remarkable experience. Meanwhile, whoever got to download the 10 billionth song from iTunes will win a $10,000 iTunes Gift Card.
iTunes was opened in 2003. Almost seven years, Apple has suceeded in making the iTunes as a premiere online music store despite its exlusivity to Apple music and mobile devices. It only goes to show that while Apple is making the iTunes popular and so were its products.
Apple has been hitting some nice milestones recently. Just last month, Apple’s app store surpassed three billion downloads, a massive feat especially when you consider that iTunes has also been around longer than the app store.
The 10 billion mark is an important reminder of just how powerful Apple has become in the music industry, though. That’s billions in revenue that Apple has generated for the music industry, but also billions that Apple has pocketed for itself. And while digital competitors have popped up, none have come close to Apple’s music dominance.
Last quarter, iTunes generated some $520 million in revenues. In terms of profitability, total revenues generated so far by iTunes barely surpassed the break-even point. But that’s just beside the point since we all know that Apple created the iTunes to support its main business – selling hardwares. And it did while at the same time achieving a commendable feat in selling digital music.
Anyway, in case you’re interested to know the most downloaded song from iTunes happens to be Black Eyed Peas’ I Gotta Feeling. Now this is another an interesting achievement for the band but that’s another story.
The Path to 10 Billion iTunes Downloads [By GigaOM.Com]
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