Horace Dediu reports for Asymco.”In the last few posts I estimated the iTunes economy in some detail. In absolute figures, the revenues and cost structures of iTunes are substantial:

• 6.3 billion transactions in the last quarter
• $4.6 billion consolidated revenues (including software & services)
• $3.3 billion in content payments
• $650 million in operating income

“However, as a part of the entire Apple revenue model, iTunes appears to be a small contributor,” Dediu reports. “The following diagrams shows where revenues came from and where they were spent during the last quarter.”

Full article here.

[Thanks to MacDailyNews Reader "Arline M." for the heads up.]

Related article:
iTunes Store: Goodbye to break-even – March 22, 2013