The iTunes Store is Apple's Second Fastest Growing Revenue Stream

Revenue from the iTunes Store grew faster sequentially than every other Apple business but the iPad, notes Fortune's Philip Elmer-Dewitt in a recent report.

What struck me, looking at Apple's most recent SEC Form 10-Q, is that revenue from the iTunes Store grew faster sequentially (30%) and year over year (26%) than every other line of Apple's business except the iPad (40% and 29%, respectively).


Apple revealed in its last earnings call that it received $4 billion in combined quarterly revenue from iTunes, Software, and Services.

Check out the chart below by Asymco's Horace Dediu that shows gross iTunes revenue by media type.