Staggering iTunes Sales — Good for Apple, Not So Much for Music Publishers

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By Douglas A. McIntyre Updated Published
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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.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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