Apple announced today it has sold more than five billion songs through its iTunes Store. Customers are either purchasing or renting at a rate of 50,000 movies per day.
Hollywood and media moguls used to be apprehensive about Apple’s capabilities for selling their products, but now they should be happy with new figures coming from iTunes.
Apple has made it simpler and easy to distribute media via iTunes. Apple’s iTunes Store became the largest music retailer in the U.S. based on the amount of music sold during January and February 2008, according to NPD Group’s MusicWatch more than Wal-Mart and other stores.
iTunes has one of the largest music catalog with over eight million songs. Besides songs, it is also selling TV shows and movies (both rentals and downloads) and customers are buying them in large numbers nearly 50,000 movies every day. Altogether it has eight million songs, and over 20,000 TV episodes and 2,000 films.
iTunes store carries movies from all of the major movie studies such as 20th Century Fox, The Walt Disney Studios, Warner Bros., Paramount, Universal Studios Home Entertainment, Sony Pictures Entertainment, Metro-Goldwyn-Mayer (MGM), Lionsgate and New Line Cinema.
iTunes also provides flexibility in watching movies; customers can either watch them in iPods, iPhones, media players, Mac, PC and on a widescreen TV with Apple TV. Customers can now purchase movie releases from film studios on the same day as their DVD release.
This is impressive growth for iTunes in just five years.