iTunes Continues to Dominate Music Industry, But Growth is Slowing

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Apple’s iTunes – the virtual music storefront that provides media for the iPhone, iPad, iPod, Macs, and Windows computers – continues to dominate the music industry with 63% of all digital music sales. Amazon, Apple’s closest competitor, has a relatively small 22%.

While Apple’s iTunes continues to maintain its lead, the platform’s growth is slowing. Alternatives to iTunes, such as Amazon’s music services and streaming services like Pandora and Spotify, are gaining steam as more consumers become aware of the advantages of each respective platform. iTunes, locked to the Apple ecosystem, is forced to compete with the more open Amazon platform. App-based alternatives like Spotify and Pandora are also gaining marketshare as Apple is rumored to debut an “iRadio” service in the coming months. It’s unclear whether or not consumers will flock to Apple’s radio service, or whether the rise of Spotify and the streaming model of consuming music is imminent. Do you use iTunes for your media needs?

[The Verge]

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