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About this siteFor six years, the Internet Nexus served as my technology blog, but I've since started blogging at the SuperSite Blog instead. If you're looking for the blog, please head there. --Paul Tuesday, March 16, 2004Steve Jobs: iTunes Won't Meet Song Sales Goals, Pepsi promotion falls flatWall Street Journal: "Apple Computer Inc. said its iTunes Music Store has sold 50 million songs since its debut, but the company expects to fall short of its 12-month forecast of selling 100 million songs by the end of April. The online music store, which began operation in April 2003 and offers digital song files at 99 cents each, sells about 2.5 million songs a week, up from 500,000 a week last September and from 1.5 million a week last December. But with just weeks left until the end of April, Steve Jobs, Apple's chief executive, said Apple won't be able to sell 100 million songs by then. 'We're not going to make that number,' he said in an interview. 'At the rate we're at right now, we'll probably have sold 70 million to 75 million songs' by the end of April.The 50 million songs that consumers have purchased so far don't include those being redeemed from a promotion with PepsiCo Inc. In the promotion, launched last month, Apple is giving away 100 million songs free through a Pepsi bottle-cap game. Mr. Jobs said the redemptions from the promotion 'aren't what we thought they might be,' adding that many of the Pepsi bottles with the winning bottle caps were distributed late. Still, Mr. Jobs said he is 'thrilled' with the iTunes Music Store's sales so far." He should be thrilled, actually. 50 million songs is impressive. And that's a number Apple can legitimately brag about. Too bad about the prediction. [ Posted at 9:08 AM | Permalink ]
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