Apple iTunes Online Store Sells 1 Billionth Song

By Bloomberg, AP and Staff Reports

Apple Computer Inc. says its iTunes online music store sold its 1 billionth song Thursday.

“I hope that every customer, artist and music company executive takes a moment to reflect on what we’ve achieved,” CEO Steve Jobs Apple said in a statement issued by the Cupertino, Calif.-based computer giant.

Apple, which made its name selling Macintosh computers, leads the market for legal music downloads and broke into the nation’s top 10 list of music retailers last year when it ranked seventh, according to NPD Group Inc. in Port Washington, N.Y.

The iTunes store is a “major force against music piracy and the future of music distribution as we move from CDs to the Internet,” Jobs said.

Revenue from iTunes and Apple’s iPod portable music player accounted for 60 percent of the company’s sales last quarter, up from 40 percent a year earlier.

Apple also said it has sold more than 15 million videos since adding the content to iTunes in October.

Songs on iTunes, which began operation in April 2003, sell for 99 cents each in the United States; music videos and televisions shows are $1.99 each.

Songs and videos purchased on iTunes can be accessed on the Mac, other PCs and the iPod.

Sales of the iPod more than tripled to 14 million units last quarter, bringing the total sold to more than 42.2 million since Jobs introduced the device in 2001.