Consumer Electronics
Apple (AAPL) Becomes Third Largest Music Retailer
Published:
Apple’s (AAPL) position as a seller of music improves as each day passes. According to The Associate press, the online music store has passed Target (TGT) and Amazon (AMZN) both of which sell CDs, unlike Apple’s download system. Research firm NPD "counted every 12 tracks purchased online as equivalent to an album in compact disc format."
On the basis of these measurements Wal-Mart (WMT) still has a 15.8% share, making it the leader. It is followed by Best Buy (BBY) at 13.8% and Apple at 9.8%.
The demise of the CD is hurting the music industry badly. Shares in Warner Music Group (WMG) have been cut in half this year to under $15. According to The Washington Post: "Revenue from CD sales was down 13 percent last year compared with 2005, the Recording Industry Association of America reported yesterday."
It is difficult to imagine any change in the trend that is damaging Warner, EMI, and other large music publisher companies.
Dougals A. McIntyre
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