Apple has won another award, this time from entrepreneur's Web site, AlwaysOn.

The company won the Top Innovation Award for its iTunes Music Service. Search engine Google also received accolades as Company of the Year and Consumer technology Company of the Year.

The list of winners was compiled with help from KPMG. Editors and analysts surveyed over 1,000 venture capitalists, investment bankers, entrepreneurs and executives. The sample group nominated over 700 companies for the competition.

AlwaysOn editors said: "Apple has delivered the first online music solution that elegantly bridges Silicon Valley and Hollywood interests. The war is finally over."

Praise for Apple's service was continued by august music magazine, Rolling Stone yesterday. In an article looking at the continuing slump in US music sales, the magazine accuses the labels of being too focused on downloading and not focused enough on lowering CD prices.

It says a wave of layoffs have afflicted the industry – with 600 US record shops closing down. The article quotes Coalition of Independent Music Stores president Don Van Cleave, who says: "We've got a bad economy and we're still trying to sell records for $18.98."

Against this background, the article states: "The success of Apple's iTunes Music Store may be the best news the industry has had lately." The store has sold millions of tracks in 61 days at 99 cents each.

A Warner Brothers source said: "iTunes has shown that there is a real business potential for selling downloads."