Hi, need to submit a 3000 words paper on the topic Online Music Company. The iTunes Music Store (Apple, 2015) came out as an online business baby by Apple Inc., which later on was named as the iTunes

Hi, need to submit a 3000 words paper on the topic Online Music Company. The iTunes Music Store (Apple, 2015) came out as an online business baby by Apple Inc., which later on was named as the iTunes Store that has until now broken numerous sales records when it comes to the online music business, as well as, has given fierce competition to physical music stores globally. One may understand the level of iTunes’ success by its status as the largest online music supplier in the USA since 2008 and similar status in the world since 2010 that shows the dominance of Apple iTunes Store as one of the most successful online music businesses in the world music history.

In this regard, this report will include a critical analysis of Apple’s iTunes Store as an online music business company to identify its strengths and weaknesses followed by few conclusions of the report.

Historically, and even presently, Apple’s iTunes Store (Apple, 2015) never created any music itself, and thus, from its inception until today, the company has been depending on major record companies to offer their music on Apple’s software platform. Historical analysis shows that this began back in 2003 as Apple made successful agreements with major record companies, such as BMG, Warner Bros, Sony Music, Universal Music, and EMI (Gilbert, 2012) to launch its online music business, and since then, the online music world changed radically. Also, the company did not depend only on the record labels but also signed deals with independent label companies to expand its music base, which helped it to reach to the maximum demand of consumers worldwide. As of today, the iTunes Store (Apple, 2015) is offering more than forty-three million songs to consumers in approximately 145 countries that indicate the magnitude of this online music business.

As mentioned earlier, historically, Apple’s iTunes Store was successful in breaking numerous records. For instance, within a year of its inception, the iTunes Store had sold more than a hundred million songs by July 2014.