Apple's iTunes music store is a success, five million songs sold

June 25, 2003

As we already reported earlier, Apple's online music store iTunes is a succes. In its first week the company sold one million songs and now, seven weeks later, five million songs have been sold online:

The company confirmed that Internet-based album sales remain safe in the new digital economy--over 46 percent of tracks were purchased as albums, and over 80 percent of the available songs in Apple's catalogue have been purchased at least once.The company added it will ship its one millionth IPod this week.

At Apple's Worldwide Developers Conference in San Francisco, Chief Executive Officer Steve Jobs said: "The ITunes Music Store is changing the way people buy music. Selling five million songs in the first eight weeks has far surpassed our expectations, and clearly illustrates that many customers are hungry for a legal way to acquire their music online."

"The ITunes Music Store is pushing us into the future of how music is produced and consumed." Warner Music Group chairman and Chief Executive Officer Roger Ames said: "Everyone in our industry is looking for a solution, and Apple is leading the way with the ITunes Music Store."

Read the complete article here.

Source: PCWorld.com