Apple has sold over 20 million tunes through iTunes Music Store, the company revealed yesterday.
Apple's director of marketing for applications and services Peter Lowe disclosed the figures during his keynote speech at yesterday's Music 2.0 event in LA.
Lowe claimed 45 per cent of songs sold have been acquired as part of an album purchase, rather than single tracks.
Music and IT industry executives used the event to discuss online music pricing, with technology-driven digital-music download services urging music business bosses to cut costs to help generate mass-market adoption. Industry bosses counter that they cannot afford to reduce prices.
Analyst firm NPD Group revealed research that indicates iTunes customers buy more music than brick-&-mortar retail music consumers: the average iTunes customer bought 49 songs online in that period – an album a month, compared to the average teenager's one CD every two months.
Music executives told Cnet that they might grow more flexible on pricing, but that they need to "look seriously at what the record business is going to be in five years".