Blog Post

Jobs: Apple will not meet 100m song download goal

Apple has admitted that it will fall rather short of its first-year iTunes Music Store 100 million song sales target. “We’re not going to make that number,” CEO Steve Jobs told The Wall Street Journal this week. “At the rate we’re at right now we’ll probably have sold 70-75 million songs by the end of April.”

And even 70 million tunes yields an annual revenue contribution of $23.1m, based on Apple’s claim that it takes 33c out of every 99c track sale. What its profit margins are remain to be seen…