Apple’s iTunes alone is one of world’s largest media companies

“Google, Facebook and even Yahoo have been hailed as visionary companies that aren’t just disrupting old media, they’re replacing it. That conjecture hasn’t applied as readily to Apple, which after all deals in high-end hardware, not eyeballs or advertising,” Edmund Lee reports for Bloomberg. “A closer look, however, reveals that Apple not only has a significant media business, it’s bigger than most major media companies — and possibly at their expense.”

“By itself, Apple’s iTunes (which was just updated) and App stores, which hawk everything from movies and music to books and newspaper subscriptions,” Lee reports, “make more money than The New York Times; Simon & Schuster, which publishes the best-selling ‘Steve Jobs’ biography; Warner Bros. film studios, which owns the popular Batman film franchise; and Time Inc., the largest magazine publisher in the U.S.”

Lee reports, “Combined.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Carl H.” for the heads up.]


    1. Cover Flow is great on iOS, totally SUCKS on iTunes. Glad it’s gone. As for the new mini player; I find it a lot more functional now than it was before.

      iTunes 11 has other glaring problems, but the lack of Cover Flow and the new mini player are not it.

    2. I never use cover flow, couldn’t care less about it. I have hundreds of tracks in iTunes which have been ripped from free sampler cd’s given away with music mags here in the UK, and trying to track down cover art for them would be a massive ball-ache, and I just can’t be bothered, especially as I play music on my iPod Classic most of the time anyway, or from my iPhone, and mostly shuffled, so it’s irrelevant, and I never use it with Remote when playing music from my Mini either. It’s pretty, but not essential.

  1. No the revenue for iTunes is certainly that large but 70% of that revenue goes back to those other companies, Apple keeps 30% for operating expenses and some profit. The sound like record company propaganda that they feed to their artist how they only share a small fraction of the money they get from Apple.
    Some how they have convinced the artists that Apple is keeping all the money and it is Apple that is only sharing 3 or 4 pennies from each dollar song with them.

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