iTunes Closing In On Top Spot

Research has indicated that iTunes is now the number three overall music retailer powerhouse, speeding past Amazon and Target in total units sold.  With almost 10% of the market share in the United States, verses second place Best Buy who has almost 14% of the market.

Who is number one?  I was shocked and amazed to find out Wal-Mart holds the number one slot with just about 16% of the music market share.   

With music purchases dramatically shifting to digital downloads and the popularity of Apple’s iPod, iTunes will close in and most likely take the number music retailer spot before long.  Compact disc sales have dropped sharply over the past few years.

As the 2nd quarter comes to a close, nearly 212 million albums have been sold thus far.  This is down approximately 16% over last year’s sales.  With legal music downloads up 49 percent over the exact time frame.  Combined sales of digital music downloads and CD’s show a 14% increase over last year.
Tim Somers
MusicHoncho.com