There are a lot of places to spend money on digital music, but all of them are dwarfed by iTunes. If you spend any time at all thinking about the digital music business, you know that already. But it’s good to see it spelled out, courtesy of Asymco analyst Horace Dediu and Billboard’s Glenn Peoples.
Dediu, incorporating new numbers released from Apple yesterday, pegs iTunes music spending at $6.9 billion a year. Peoples, riffing off numbers provided by the music industry’s international trade group, pegs totalconsumer spending on digital music at about $9.3 billion a year.
In other words, Apple owns about 75 percent of the digital music market. Leaving the rest for a group that includes subscription services like Pandora, Deezer, Rhapsody and assorted retailers like Amazon.
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