Awhile back it was reported that the iTunes Store is one of the biggest media companies in the world. The iTunes Store generated $8.5 billion in revenue last year, which is more than many of America’s top media companies combined.
Apple has been the tech industry’s pioneer for abandoning physical media, and iTunes is a testament to the success of digital downloads. According to a new report from the NPD Group, iTunes dominates its competitors in terms of online video on demand.