10-K Watch: Audible’s Deal With Apple & Sales Through iTunes

Spoken word company Audible filed its 10-K annual report last week, and some interesting details from it about its relationship with Apple, and sales of audiobooks through iTunes.
— Apple may convert the spoken-word provision elements of the agreement related to iTunes from an exclusive arrangement to a nonexclusive arrangement for both us and Apple upon 120 days notice.
— Year-end AudibleListener membership grew to about 248,000 at December 31, 2005. It recognized in revenue approximately $9.46 million, $3.67 million, and $0.39 million from sales of Audible content at the Apple iTunes Music Store, in 2005, 2004, and 2003, respectively. Customer count and AudibleListener membership count excludes customers that purchase Audible content directly from iTunes.
— During the years ended December 31, 2004 and 2005, Apple Computer accounted for 10.7% and 15.0% of total revenue, respectively.

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