Apple’s iTunes is a media entity all unto itself

Thu, Dec 6, 2012


Bloomberg reports:

By itself, Apple’s iTunes (which was just updated) and App stores, which hawk everything from movies and music to books and newspaper subscriptions, make more money than The New York Times; Simon & Schuster, which publishes the best-selling “Steve Jobs” biography; Warner Bros. film studios, which owns the popular Batman film franchise; and Time Inc., the largest magazine publisher in the U.S.


Apple’s media storefronts took in more than $8.5 billion for the fiscal year ending in September. Put together, the revenue of the above-mentioned media companies only adds up to $8.2 billion for the same period, about $300 million less than Apple.


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