“Apple Computer said Wednesday that its iTunes digital music store had sold more than 800,000 songs during its first week of operation in European markets. The news marked a strong start for the service in a region that is already substantially more competitive than the United States market was when iTunes initially launched, in the U.S., in early 2003. The store opened its digital doors in the United Kingdom, Germany and France last Wednesday,” John Borland reports for CNET News.
“More than half of Apple’s sales came in the British market alone, allowing it to pass rivals that had been in the market for substantially longer. According to the British Phonographic Institute, rivals in that market sold 500,000 songs in the first five months of 2004,” Borland reports. “‘iTunes is Europe’s top online music store,’ Apple Chief Executive Officer Steve Jobs, said in a statement. ‘In the U.K. alone, iTunes sold more than 450,000 songs in the last week–16 times as many as OD2 (On-Demand Distribution), its closest competitor.'”
Borland reports, “The quick surge in Apple sales appeared to foretell an early European market progress mimicking iTunes’ ascent in the United States. Although overall digital music sales remain a tiny fraction of CD sales, and profit margins remain low, Apple has taken a commanding early lead in the market and is showing no sign of relinquishing its hold.”
Full article here.
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