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iTunes Sets a New Record for Song Downloads

Feb 7 2013, 1:00pm CST | by , in News | Apple

iTunes Sets a New Record for Song Downloads
 
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25 billion songs sold and growing quickly

Apple's iTunes Music Store has set another major record for the digital music market. The iTunes Store has surpassed 25 billion songs sold. According to the numbers, Apple is selling 21 million songs a day via iTunes.

NPD Group reports that iTunes accounted for 69% of all digital music sales in the United States during 2012. Apple has 29% of the overall music market versus digital and physical formats selling more music than both Walmart and Target. Apple is making serious money off its iTunes business according to estimates.

The iTunes business including sales of Apple Care warranties and other services generated slightly less than $3.7 billion in revenue for Apple's quarter ending December 29. That is a 22% increase from the same quarter the previous year and the $3.7 billion is only Apple's cut. Gross sales were significantly higher when you figure in the portion of sales that go to developers, record labels, and musicians.

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