[JPL] REUTERS - Apple's iTunes grows to No. 2 U.S. music retailer

mfa - jazz radio promotion & publicity MitchellFeldmanAssociates at Comcast.net
Tue Feb 26 20:46:42 EST 2008


REUTERS - Apple's iTunes grows to No. 2 U.S. music retailer

Tue Feb 26, 2008 11:34am EST
NEW YORK (Reuters) - Apple Inc's iTunes digital media store edged out  
Best Buy Co and Target Corp to become the second-largest U.S. music  
retailer, behind Wal-Mart Stores, according to data released on  
Tuesday from tracking firm NPD Group.

Based on 2007 sales, legal music downloads now account for 10 percent  
of music acquired in the United States, but the increase failed to  
offset a decline in physical CD sales, NPD said.

The amount of music purchased by consumers rose 6 percent from a surge  
in digital music sales. But actual spending rates across the industry  
declined by 10 percent due to lackluster CD sales, dropping from about  
$44 per capita to $40 among Internet users.

About one million consumers stopped buying CDs in 2007, according to  
NPD.

The iTunes store now has more than 50 million customers and has sold  
more than 4 billion songs, Apple said in a separate statement.

(Reporting by Michele Gershberg and Kenneth Li; Editing by Lisa Von  
Ahn, Phil Berlowitz)


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