Facebook announced today via their official blog that digital iTunes gift cards will now be apart of the social network’s Gifts platform. According to Apple’s last 10-K, they generated $7.5 billion from the iTunes Store during fiscal year 2012. Industry sources say that more than $2 billion of that revenue comes directly from iTunes gift cards. Assuming the rumored 13-percent that retailers make on these cards, Facebook will now be taking a share of what has become a $260 million-dollar market.
Starting today with Facebook Gifts, you can instantly gift your friends iTunes digital gifts and recommend albums, movies, games, apps, and more available on the iTunes Store.
Search for a specific song or album to recommend, or let your friend decide. iTunes digital gifts are available for $10, $15, $25, or $50.
The cards are almost identical in offering compared to the plastic ones available at retailers across the world, but giving an iTunes gift without going to the store is now easier than ever. You have been able to give iTunes gift cards via email using iTunes for about as long as the store-bought ones have been around, but now it’s as simple as giving your friend a few clicks on Facebook.
iTunes cards have become a prominent stocking stuffer and a simple way to give the gift of music to friends and family. Are you planning on buying one this holiday season?