May 5, 2003: Just a week after launching the iTunes Music Store, Apple reaches an incredible milestone with more than 1 million songs sold.
Particularly notable is the fact that more than half the songs purchased are albums. This quickly dispels fears that selling tracks individually will kill the record industry’s dominant format. In addition, more than half of the 200,000 songs initially available on iTunes get downloaded at least once.
“In less than one week we’ve broken every record and become the largest online music company in the world,” says Steve Jobs in a statement. “Apple has created the first complete solution for the digital music age — you can purchase your favorite music online at the iTunes Music Store, mix your favorite tracks into playlists with iTunes, and take your entire music collection with you everywhere with the super-slim new iPods.”
It’s a roaring success for Apple’s newest venture!
iTunes launch breaks records by selling records
When the iTunes Music Store opened, there were no guarantees it would work. File-sharing services like Napster had fueled a boom in illegal music downloads. Skeptics questioned whether people would pay 99 cents per track in exchange for an attractive user experience (and a legal transaction).
Although Jobs convinced the heads of the “Big Five” record labels — BMG, EMI, Sony Music Entertainment, Universal and Warner — to sell their music on iTunes, the execs remained concerned the move would eat into CD sales.
iTunes Music Store becomes a surprise success
The label chiefs expressed surprise at iTunes’ rapid success in statements issued by Apple.
“Hitting one million songs in less than a week was totally unexpected,” said Roger Ames, Warner Music Group’s chairman and CEO. “Apple has shown music fans, artists and the music industry as a whole that there really is a successful and easy way of legally distributing music over the internet.”
Universal Music Group CEO Doug Morris also hailed the iTunes milestone.
“Our internal measure of success was having the iTunes Music Store sell one million songs in the first month. To do this in one week is an over-the-top success,” said Morris. “Apple definitely got it right with the iTunes Music Store.”
To celebrate the news, Apple said iTunes would add more than 3,200 new tracks. (That included an exclusive song and music video by Coldplay.)
Within six months, the number of songs in the iTunes Music Store doubled.
iTunes downloads soar
Apple went on to obliterate download records, with the rate of sales only increasing. By December 15, 2003, the iTunes Music Store hit its 25 millionth download. By the following July, Apple sold its 100 millionth song. Today, Apple has sold north of 40 billion songs — although its strategy has now shifted to streaming with Apple Music.
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