Apple still king of the digital music market
Despite the rise of digital music competitors like Amazon, Google, Spotify, Pandora and many, many more, Apple is still king of the digital music market, reports AllThingsD. Specifically, Apple controls 75 percent of all digital music sales across the world. That number is extrapolated from data provided by Horace Dediu of Asymco and data provided by Billboard.com.
Dediu says iTunes music spending hit US$6.9 billion last year while Billboard.com says a total of $9.3 billion was spent on digital music downloads across the globe in the same period. A little math reveals that we're talking about three-fourths of all digital download music spending being spent on iTunes.
Apple surely wants to retain its market dominance, which is why it will be releasing iTunes Radio in the fall. The new service can be seen as a direct competitor to Pandora, Spotify and other streaming music platforms that appeared to be the biggest competitors to iTunes.
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