Apple's iTunes Music Store is already known to be one of the top contributors to the music industry's bottom line, but a new analysis pegs Apple is bolstering the digital music download market to the tune of about $3.4 billion, or 60 percent of digital revenues.
Once ravaged by free file-sharing, the global music industry appears to be on the comeback, as digital download services such as Apple's iTunes boosted music revenues to $16.5 billion in 2012, the first year of industry growth since 1999.
Music streaming and subscription service Spotify is said to be preparing to renegotiate its licensing agreements with the recording industry in an effort to possibly extend its free pricing option to mobile devices.
Having spent thousands of dollars buying music from iTunes, actor Bruce Willis was originally reported to be considering a lawsuit against Apple that would grant the rights to his large music collection to his daughters upon his death. But since then, a family member has denied the original report [updated].
Eddy Cue, Apple's chief of Internet Software and Services, has suggested to one analyst that his company would be unlikely to build a full-fledged television set unless it could secure necessary deals for content.
If traditional media outlets want to begin making more money from "small screen" viewing via devices like iPads, smartphones and notebooks, their best bet may be to align with Apple, one analyst believes.