eMusic: 250 Million Songs Downloaded. iTunes: 5 Billion+
November 20, 2008 at 10:52 AM EST
Will the music subscription business ever grow beyond its current niche? It looks increasingly doubtful. Today, eMusic announced that since it launched its current music subscription service in 2003, customers have downloaded 250 million songs. Apple's iTunes, by comparison, has sold more than 5 billion songs since it opened the iTunes Store in April, 2003. That makes eMusic one twentieth the size of iTunes. The way eMusic works is you pay a subscription of between $12 and $20 a month and then you can download 30 to 75 songs a month and keep them. You can also purchase songs above those limits, starting at $0.25 a track. eMusic has a catalog of 4.5 million songs, and is particularly strong in independent music. It currently has 400,000 subscribers, and the company expects to make $70 million in revenues this year.