iTunes Represents 25% of U.S. Music Sales Market

Last year, the music industry saw a significant decline in revenue, dropping by over a billion dollars. Despite this downturn, Apple’s iTunes thrived, achieving its highest earnings to date. It now accounts for more than a quarter of all U.S. music sales. However, the overall U.S.

music market only saw a marginal increase of 1.1% from the previous year, which analysts describe as virtually stagnant, and global sales fell to $17 billion. Despite more consumers purchasing through iTunes, the total volume of music sold is in decline, suggesting a potential future drop in music sales even in the U.S.

In response, the music industry is turning to iTunes for a potential lifeline. An industry executive suggested that an iTunes subscription model could reinvigorate interest in music purchasing—or at least in music rental.

Dan

Donald is a dedicated writer for TUAW, bringing readers the latest insights and updates on all things Apple. With a keen eye for detail and a love for technology, Donald covers everything from the newest iPhone releases to the latest macOS updates. His articles are known for their clarity and depth, making complex topics accessible to all. When he’s not writing, Donald enjoys exploring the capabilities of his MacBook Pro and capturing moments with his iPhone camera.