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The sixth birthday of the iTunes Store and the challenges ahead!

Monday, April 28th 2008, marks the sixth birthday of the iTunes Store. In the past five years, well over 4 billion songs have been sold. Apple boasts almost 70 per cent of the global digital music download market, according to market analysts. According to an estimation by InStat, digital downloads are expected to comprise nearly 40% of all music bought and sold by 2012.

It will not all be roses for the firm in the near term, at least. The company is yet to resolve its ongoing dispute with most RIAA partners about the pricing structure of iTunes Store. It is an area of conflict that, even while not absolutely critical to be addressed with haste, given Apple’s comfortable sales streak, is something that definitely needs some serious attention in the months ahead, and the sooner the better.

Expectedly, customers of the iTunes Store were vigorously buying on the anniversary day (April 28, 2008). They regularly do; no real surprises there. But they did with more enthusiasm this day. However, looking ahead the service may face some challenges from its competitors in sales. The truly momentous test for Apple would be to lead all such digital marketplaces currently listed on the global music circuit.

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Writer: Darren Jamieson


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