iTunes 3rd Largest Music Retailer In US; iTunes Driving Music Industry Growth
Jun 22nd, 2007 | By James Lewin | Category: Digital Music, iPods & Portable Media PlayersApple’s iTunes Music Store was the third-biggest music retailer in the U.S. in the first quarter, moving ahead of Amazon and Target, according to new research from the NPD Group.
ITunes ranked behind Wal-Mart and Best Buy. NPD tabulated units sold, not revenue. Wal-Mart accounted for 15.8 percent of music units sold during the quarter, Best Buy’s share was 13.8 percent, and¬† iTunes’ share was 9.8 percent. Amazon’s share of music sales was 6.7 percent, slightly ahead of Target’s 6.6 percent.
Digital Sales At iTunes Driving Music Industry Growth
Apple’s rise in the NPD survey reflects a key shift in the music industry towards the digital sale of music.
212.1 million albums have been sold so far this year, down about 16 percent compared to the same period lastyear, according to Nielsen SoundScan. Sales of digital tracks, meanwhile, are up 49 percent over the same period. When digital music, CDs and other formats are combined, overall music sales for the year are up 14 percent over the same time last year.
via PE