Apple Inc. (NASDAQ:AAPL) launched iTunes 10 years ago, and has continually expanded its library of available songs and albums available for digital download. As the company has introduced new devices, the iTunes store has been continuing to grow in usage, but after 10 years the service has reached a significant milestone, and a German man is the ultimate beneficiary.
And you can benefit from Apple Inc. (NASDAQ:AAPL) as well, especially if you invest in the stock by following our investing strategy, which has produced a return that is 18 percentage points higher than the S&P 500 since August. You can get our strategy and reap rewards by checking out our premium newsletter.
Apple Inc. (NASDAQ:AAPL) reported that it had recently sold its 25 billionth song on the iTunes digital-music service. The lucky milestone purchase was “Monkey Drums” by Chase Buch. The lucky purchaser was a German named Phillip Lupke, who did not get only the song for his efforts. Apparently Mr. Lupke will be getting a $13,500 iTunes gift card. So Mr. Lupke on his own would move iTunes quickly toward 30 billion downloads with that kind of gift card.
About the milestone, Apple Inc. (NASDAQ:AAPL) senior vice president Eddy Cue said, “We are grateful to our users whose passion for music over the past 10 years has made iTunes the number one music retailer in the world. Averaging over 15,000 songs downloaded per minute, the iTunes Store connects music fans with their favorite artists, including global sensations like Adele and Coldplay and new artists like The Lumineers, on a scale we never imagined possible.”
The iTunes store current has 26 million songs in its library and it is accessible in 119 countries round the world. While that number seems large and impressive, Apple Inc. (NASDAQ:AAPL) actually announced last month that its App store past the 40-billion download level for its apps. Half of those downloads, the company said, occurred just in 2012.
Let us know your thoughts about Apple Inc. (NASDAQ:AAPL) or this major milestone in the comments section below. With more devices in the market, do you expect the next 25 billion downloads to take 10 years? Let us know.
DISCLOSURE: I own no positions in any stock mentioned.
Please see these related AAPL articles:
Apple vs. Google in the App Wars
This is What Apple Needs to Build