iTunes sales below target
p2pnet.net News:- Today – April 28 – marks the first anniversary of iTunes, Apple’s corporate online music store and Apple ceo Steve Jobs says the site had more than 70 million downloads in its first year.
At 99 cents per, that’s not bad. But it’s not good either, especially considering Jobs was predicting that iTunes would sell100 million tracks by the end of April.
That didn’t last thanks, to an extent, to the fact downloads from the ill-conceived iTunes-Pepsi-RIAA promotion didn’t come up to expectations.
So, a while back Jobs was revising his hopes foriTunes’ first year and now thought he’d fall short of his goal of 100 million tracks sold.
And this time, his prediction was right on. iTunes sales were 30% below target.
Even at that, however, it still has 70% of the market share of ‘legal downloads’ for singles and albums, Apple boasts.
” iTunes customers are currently purchasing 2.7 million songs per week, a rate of 140 million songs per year. iTunes has exceeded our wildest expectations during its first year …”
Given that Jobs undershot by 30%, “exceeded our wildest expectations” is clearly not quite accurate.
But never mind, particularly since he’s said from Day One that iTunes has never been other than a loss leader.
April 28th, 2004 at 7:07 pm
Hmmm… 70 million songs legally downloaded, bought and paid for seems like a success story for me. Has any launched corporate target in the online sector ever been hit in its first year ? I think this is sour grapes. Much as I hate the PlayFair DRM, the fact is Jobs has managed to create the first legal download music site that is successful where every other one has failed or been a bit player. This is pure nitpicking. iTMS is an unqualified success by any measure.
April 28th, 2004 at 7:58 pm
I don’t know how you can come to the conclusion that ITunies has been a success, given that from the outset those who conceived it admitted that it was a loss-leader.
As for their advert, during the superbowl, well I was so disgusted that I decided at that point never to buy another Apple Mac again.
April 29th, 2004 at 8:27 pm
Yawn…that’s really gonna get Apple and RIAA’s attention. But at least, you would have made your point (which is?). Enjoy your PC.
May 2nd, 2004 at 4:53 am
well sleepy head, what point do YOU have to make?
Nahh forget it….it’s way past your bedtime.