Wednesday, April 9, 2008
Five years after its launch, Apple Computer‘s iTunes downloadable music service in February passed Wal-Mart to become the No. 1 music seller in the United States, according to figures released April 3 by NPD Group, a market research firm.
The firm said more than 4 billion songs had been downloaded from the iTunes store since its launch in 2003 and that as of February, the iTunes store accounts for 70% of all digital music sales. NPD said according to those figures, Apple’s iTunes store passes U.S. electronics retailer Best Buy for the No. 2 U.S. music retailer in 2007.
According to an April 2nd report in Ars Technica, an internal memo at Apple showed the company passed Wal-Mart as the top U.S. music seller Wal-Mart at the beginning of the year. Their projections showed that as of January 2008, Apple’s iTunes held 19 percent of the U.S. music market with Wal-Mart at 15 percent, followed by Best Buy at 13 percent. Rounding out the top five were Amazon.com and Target at 6 percent each.