Published on March 4th, 2013 | by Alan Cross0
How Big is iTunes? Big. REALLY Big.
Apple tends not to break out the performance of iTunes in its financial reports, so it’s up to outside parties to take a guess on how well that part of the business is doing.
According to this report, iTunes accounted for 69% of total music industry digital revenue in 2012. Those revenues were said to $5.6 billion worldwide. That means Apple sold $4.3 billion. And given that they keep 30% if each transaction, that means Apple paid out $3.4 billion and kept $900,000,000.
That’s not bad for a transactional business, is it?