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The iPod and the music industry
The iPod and the music industry
Oct. 23, 2001
Widespread piracy was already eroding the profit margins of the recording industry when Jobs introduced the first iPod -- a Mac compatible MP3 player with 5GB of memory capable of storing roughly 1,000 songs. Sales were slow at first, but they accelerated when Apple introduced a Windows-compatible iPod the next summer.

Sales exploded with the 2003 launch of the iTunes Music Store -- the 99-cent shop where music lovers could buy songs with a single click and music publishers could finally start getting a cut from digital downloads.

Today, high-end iPods can hold up to 200,000 songs, and the iTunes Store -- having served up more than 6 billion downloads -- dominates the music industry.

NEXT: The iPhone and cellular telephony
Last updated November 05 2009: 7:49 AM ET
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