Through iTunes, Apple has the credit card details of 160 million people. You might want to take a second to think about the enormity of that statement.
Steve Jobs’ empire has become one of the most important players in the music industry over the past ten years with the introduction and evolution of the iPod.
The digital music revolution has seen a monumental shift from physical sales to digital downloads, with Apple taking a huge slice of the market.
Here’s an infographic with just a few statistics on how we buy music today, highlighting the decline in physical sales and the increase in music consumption via mobile internet.
As you can see, according to digitalmusicnews.com (September 2010), nearly 12 billion songs have now been downloaded from iTunes. If we assume the average MP3 file size is 6mb, this amounts to a colossal 72, 000, 000, 000Mb of data.
According to the British Phonographic Industry, as cited by Mediatel in August 2010, 98 per cent of singles sold are now bought digitally, with physical sales accounting for just 2 per cent.
Data from Ipsos Media CT, as cited by Mediatel in the same month showed that in the last 12 months, a third of UK adults aged between 15 and 50-years-old had paid to download music from an official site.
Other stats show that 36 per cent of UK YouTube users have bought a CD after watching a video on the site, 64 per cent of US iPhone users have downloaded music from their handset and that in the UK, and digital music sales grew by 32 per cent from 2008-09. Not bad, ha?