Apple has recently noted that iTunes customers are renting and buying 50,000 movies every day. This would mean that Apple would be pushing around 18.25 million movies this year, which would be a drastic increase from the 5.7 million in 2007. Apple’s efforts to further push its video offerings by adding rentals, signing on with all of the major movie studios, and getting new releases as they debut on DVD appear to be paying off….and then some.
iTunes movies are priced at $9.99 (for library titles), and $14.99 (for new releases). Rentals are currently priced at $2.99 and $3.99 respectively, with HD versions for $1 more. So if we assume that the average price of a movie rental/purchase is around $6, then Apple would be pulling in around $110 million annually. Phew. All of the math aside, that is, while still a mere sliver of Apple’s revenue, a nice chunk of change. Keep in mind that these figures do not include any music or T.V. show sales.
Moreover, iTunes is currently offering only around 2,000 movies, while Netflix boasts a library of over 10,000 titles. As more of these titles get added to iTunes, you would have to assume that these numbers can only increase.
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