Apple's iTunes Store has been a relevant source of income and a core to the tech giant's ecosystem. During Apple's third quartile earnings call, Peter Oppenheimer, Senior Vice President and Chief Financial Officer, said iTunes Store recorded a "strong growth in revenue in both content and apps."
"Our developers have now created more than 900,000 iOS apps including 375,000 apps made for iPad," Oppenheimer said. "iTunes users have downloaded more than 1 billion TV episodes and 390 million movies from iTunes to-date, and they are purchasing over 800,000 TV episodes and over 350,000 movies per day."
The Cupertino, California-based company's iTunes software and services' total quarterly earnings was US$4 billion. Horace Dediu, an Apple analyst at Asymco, said the revenue was slightly lower than last quarter's US$4.1 billion. Deidu noted the App Store's growth "with a near doubling of revenues." He said over a half of the US$11 billion that has been received by the app developers were generated in the last four quarters.
"Book revenues are contracting as pricing pressure is being felt," Deidu wrote. He projected that the music earnings growth would remain steady at 15% while the video earnings growth would stay at around 25%.
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