updated 06:45 pm EST, Mon December 11, 2006
Digital music plummeting?
Apple's iTunes Music Store has experienced plummeting sales revenues this year, according to Forrester Research. Although Apple refuses to disclose the revenues generated from its online multimedia storefront, an analysis of credit card transactions conducted by the firm over a 27-month period suggests that iTunes monthly revenues have fallen 65 percent since January. Nielsen Soundscan points to even worse news for digital music vendors, citing three consecutive quarters of flat or declining revenues for the entire sector, according to a report from The Register. Apple reported a 'blowout' quarter during its September conference call driven by notebook sales, and reported 'above-break-even' profits for iTunes Music Store revenues.