According to Apple Insider, Apple’s iTunes store accounts for 75% of the global digital music market. The number is big, very big.
According to the report, the average iTunes user spends about $12 per year on music and with 575 million active users, Apple’s annual revenue hits $6.9 billion.
That suggests Apple’s $6.9 billion account for about 75 percent of the $9.3 billion global digital music market. The remaining slice of the pie is divvied up to streaming music services like Pandora and retailers like Amazon – not much else to go around, thus everyone’s focus is on iTunes.
This is another reason why we here at Triple Pop are not too excited about radio streaming and subscription based music distribution services for the industry – so little revenue for the industry. Less revenue = less money for musicians. Period.