In its second-largest acquisition, Amazon buys the company for $970 million.
More than 25 million songs have been downloaded from Apple Inc.’s online iTunes Music Store since its April debut, Apple reported today. In a strong global market for digital music, even Coca-Cola Co. is entering the music business in the U.K.
More than 25 million songs have been downloaded from Apple Inc.’s online iTunes Music Store since its April debut, Apple reported today. "Music fans are buying and downloading almost 1.5 million songs per week from the iTunes Music Store, which is a rate of 75 million songs per year," said Apple CEO Steve Jobs.
The iTunes store, at Apple.com/iTunes, has also collected more than $1 million in online gift certificates and online allowance accounts set up by customers. The allowance accounts are usually purchased by parents for their children, who can then shop on iTunes without using a credit card.
The iTunes store offers more than 400,000 digital songs at 99 cents per downloaded song. It also offers Apple’s iTunes digital music jukebox software and its iPod digital music player.
In tune with the season, its 25 millionth downloaded song was Frank Sinatra’s version of “Let It Snow! Let It Snow! Let It Snow!”
In the U.K., Coca-Cola Co. is planning to enter the digital music business next month with MyCokeMusic.com, a site that will offer 250,000 songs from 8,500 artists. It will retail the songs at 99 pence each.