Despite the fact that most people understand the rapid growth that Apple Inc. (NASDAQ:AAPL) has experienced over the years, every now and again we come across an interesting report or study that shows just how much Cupertino has dominated as of late.
While there are some things Apple does better than others, its iTunes video store is unrivaled. This part of Apple Inc. (NASDAQ:AAPL)’s business is on the rise, and many don’t understand just how fast it has taken off.
Asymco recently took a closer look at the current state of iTunes with an eyes towards the number of TV show and movie downloads. While you probably expect the numbers to be big, you may not expect them to be quite as large as they have become in today’s day and age.
Here is what you need to know:
“It’s been five years since we had an update on TV show downloads and six years since we’ve had an update on movie downloads from Apple. In Q3 2008 Apple announced 200 million TV show downloads and in Q2 2007 2 million movies. That’s a long period with no information making a tough extrapolation to the present.
Nevertheless, I tried. My estimates for these two quantities were 963 million TV Shows and 108.2 million movies to date.
So I was quite surprised to see that figures for both TV show downloads and Movie downloads were published today. The figures were 1 billion and 380 million respectively.”
Even a company like Asymco, one that spends so much time and money collecting and analyzing data, came up short in terms of its estimates. TV show and movie downloads are growing at a rapid pace, fueling the growth of the iTunes store.
According to Apple Inc. (NASDAQ:AAPL), “iTunes users have downloaded more than one billion TV episodes and 380 million movies from iTunes to date, and they are purchasing over 800,000 TV episodes and over 350,000 movies per day.”
Not only is the growth impressive, but so is the fact that the Apple Inc. (NASDAQ:AAPL) iTunes store is still going strong. And more so, there is no reason to think that there is going to be a slow down.
Apple Inc. (NASDAQ:AAPL) continues to do big things when it comes to digital downloads. Whether or not a solid competitor ever emerges is yet to be seen.
View the graph on the next page, courtesy of Asymco, for more information.