Apple Math: 500,000 iTunes Accounts Created Per Day
Steve Jobs stands by a projection of the iTunes website as he launches iTunes Music Store in 2004 in London. The iTunes store revolutionized music, allowing users to buy and download albums or individual songs from a library of 700,000 songs.
Friday, Jun 14, 2013 Updated at 6:25 PM PDT
Earlier this week, Apple chief Tim Cook announced a new record of 575 million iTunes accounts. Since Apple announced in 2009 it had reached 100 million, that means that Apple would have had to add an average of 500,000 new iTunes accounts per day in the last three years.
Asymco's Horace Dediu plotted out the numbers since 2009 to calculate its growth rate, according to AppleInsider. If the numbers are correct, Apple will add another 100 million accounts by the end of 2013.
If the numbers are correct, it also means that Apple's account base is growing much faster than its peers. While there's no evidence to refute Apple's numbers, there's also not a lot to directly confirm either. The closest evidence was in April, the NPD Group released a report that gave iTunes a 63 percent share of the U.S. digital music market -- about three times that of Amazon. iTunes also received about two-thirds of video downloads, too.
Essentially, Apple's numbers are wildly positive and indicate mammoth growth. Unfortunately, we have to consider if those numbers are a bit too optimistic, especially considering that 500,000 people a day would have to be creating a new iTunes account to make the numbers work.