‘iTunes’ Seeing Off The Record Store
The most visited place to pickup new music isn’t built with mortar and bricks, it’s accessed with broadband and clicks; the concept of the stand-alone music store has started to fade.
Who’s more popular than Tower Records, Sam Goody, and Borders? The iTunes Music Store, the brainchild of Steve Jobs’ Apple and the biggest driver of iPod sales and Apple’s resurgence in the marketplace.
Recently, NPD Group’s MusicWatch rated the top ten places to buy music. They treat 12 tracks as one CD in order to determine an equivalency between buying singles and compact discs.
Wal-Mart, Best Buy, Target, and Amazon were the top four music retailers for the third quarter of 2005, and held those positions during the same period of time last year. FYE and Circuit City followed, then iTunes and the three stores it passed.
Major music labels that have been rumbling about forcing iTunes to adopt tiered pricing schemes based on the newness and popularity of releases should take note of this transition. Jobs has already warned that a push to higher prices could reverse a trend where people have been buying music instead of trading it online.
David Utter is a staff writer for WebProNews covering technology and business. Email him here.