RSS

iTunes' Share of Music Market Grows to 25%

BY Stephanie SchomerTue Aug 18, 2009 at 10:53 AM

It's safe to say the music industry is in a transition period, but one thing that's not going anywhere? iTunes.

iTunes has quickly taken hold of a good portion of the entire music industry: it accounts for 25% of all music units sold in the U.S., digitial or otherwise, up from 21% in 2008, according to NPD Group.

itunes ad

And no surprise here, iTunes has an especially firm grasp of the digital music market--it's responsible for 69% of consumer downloads, followed directly by AmazonMP3 with just 8%. With its upcoming iTunes 9 and its rumored social media integration, that grip will likely only tighten.

The growth of the digital music market is impressive--it shot up from 20% of the music market to 35% in just two years. It's definitely good news for the environment, and could be a good sign for the music industry overall--more people buying music online might mean less people are illegally downloading music online. And if the digital music market really takes over, that will be a huge cut in manufacturing costs for companies.

We still have a ways to go, though. Most Americans are still getting their music from CDs, which hold 65% of the market share (Wal-Mart accounting for 20%, leading the physical market). And let's be honest--radio sites like Pandora and the ever-present lure of stealing music make it hard to shell out any amount of money for music.

Topics:

Technology, Work/Life, Magazine, itunes, Music Industry, CDs, iTunes 9, Music Sales, Digital Downloads, Sound Recording Industries, Media Sector, Science and Technology, Technology, Internet


Sign in or register to comment.
or

Recent Comments | 1 Total

November 20, 2009 at 7:52am by Jim pedd

hey also reported that customers were purchasing 2.5 million songs a week which translates to a projected annual run rate of 130 million songs a year. The 50 millionth song was "The Path of Thorns" by Sarah McLachlan.

credit id protection services