Apple's iTunes music store: more than 1 million songs sold
Posted on 05/05/03 18:37 by Dennis                             
Apple's iTunes music store: more than 1 million songs sold
Apple's new iTunes music store, launched last month exclusively for Mac users, has had a successful start, News.com reports. During its first week the company sold more than 1 million songs via their store:

The early sales success suggests that people will pay for music downloads if given the chance, analysts say. "It clearly shows there was some pent-up demand in the Mac community for a legal way to buy and download digital music," Jupiter Research analyst Michael Gartenberg said.

Apple noted that half the songs were purchased as part of albums. Record labels have long raised concerns that online sales of single tracks would further sap already sagging album sales.

NPD Techworld analyst Stephen Baker said he's not surprised album sales are so strong. "When people move to a new format, one of the first things they want to do is get albums from their favorite artists, like the Eagles or Nirvana, in the new format."

According to Apple more than half of the 200.000 songs available through the iTunes store were purchased at least once. Music singles sell for 99 cents each and many albums go for $ 9.99. Read the complete article here.

Source: News.com

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