Yes, that's billion -- with a 'b'.
A teenager in the US recently purchased the one billionth song from Apple's digital music service iTunes.
Apples's Chief Executive said the milestone represented "a major force against music piracy and the future of music distribution as we move from CDs to the internet".
According to Nielsen Soundscan, traffic to the iTunes website grew by 241% in 2005. The number of users rose from 6.1 million to 20.7 million.
Approximately 14% of active Internet users accessed the service regularly. Teenagers were the largest group of visitors and were twice as likely to use it than any other group.
It's not good news for everyone, though. Internet-based music purchases came at the expense of CD sales. Nielsen found that CD purchases in the US declined from 763 million in 2001 to 619 million in 2005.
iTunes Reaches One Billionth Download
ITunes Reaches One Billionth Download
Trend Themes
1. Digital Music Distribution - Exploring innovative platforms and technologies for digital music distribution to meet the growing demand and shift away from CDs.
2. Anti-piracy Measures - Developing disruptive solutions and strategies to combat music piracy and protect the rights of artists and music industries.
3. Changing Consumer Behavior - Adapting business models and marketing strategies to cater to the changing preferences of consumers in music consumption from CDs to digital downloads.
Industry Implications
1. Music Streaming - Capitalizing on the rise of digital music distribution by offering innovative streaming services that provide a seamless and convenient music experience.
2. Digital Rights Management - Exploring disruptive technologies and systems to enhance digital rights management and prevent unauthorized distribution and usage of copyrighted music.
3. E-commerce Platforms - Building comprehensive e-commerce platforms that facilitate easy and secure online music purchases and cater to the evolving consumer behavior in music consumption.