February 27, 2013
Earlier this week, it was reported that music sales worldwide had increased for the first time in 15 years. Now, Asymco is out with a report that shows just how important iTunes was to those numbers. Of the $16.5 billion in music revenues, $5.6 billion came from digital downloads. Of those, $4.3 billion came from iTunes, of which the music labels received $3.4 billion. This accounts for 60 percent of digital music revenues for 2012. For The First Time In 15 Years The Music Industry Sees Sales Growth, and The Guy Who Downloaded The 25 Billionth iTunes Song Got A $13,500 Gift Card.