News

iTunes Hits Record $2.1bn Revenue In First Quarter

• 24th Jan 2013

FLagship Apple music and movie download service iTunes generated a record $2.1bn in revenues in Q1 FY13 (the three months to December 31, 2012).

The App Store generated over 2 billion downloads including music, movies and more in December alone.

“We established new all-time quarterly records for revenue from music, from movies, and from apps,” said Apple CFO Peter Oppenheimer “We significantly expanded the footprint of our ecosystem during the quarter adding iTunes music stores in 56 countries, including Russia, Turkey, India and South Africa. That brings us to a total of 119 countries, where customers can choose from over 20 million songs to purchase and download.”

The online store now offers more than 775,000 apps to over a staggering half a billion account holders in 155 countries, including over 300,000 native iPad apps. Cumulative app downloads have now surpassed 40 billion and Apple says it has paid app developers over 7 billion for sales of their work.

Apple also posted record revenues and net profits for its first quarter of FY 2013, along with increases in sales across its hardware lines. The figures fell below Wall Street’s expectations, however, causing share prices to dip as much as 10% last night.

via musicweek.com