Apple 2.0

Covering the business that Steve Jobs built

Chart of the day: Apple's 2nd-fastest growing revenue stream

April 29, 2013: 9:02 AM ET

Ten years later, it's the sprawling digital mall known as the Apple iTunes Store.

Source: Asymco

Source: Asymco

FORTUNE -- Asymco's Horace Dediu contributed to the bouquet of articles celebrating the iTunes Store's 10th anniversary with a story for Billboard magazine and the bar chart above, posted with a score of eye-popping data points in Happy Birthday iTunes Store.

What struck me, looking at Apple's most recent SEC Form 10-Q, is that revenue from the iTunes Store grew faster sequentially (30%) and year over year (26%) than every other line of Apple's business except the iPad (40% and 29%, respectively).

Maybe that's one of the reasons Tim Cook talked almost as much about Apple's new services during last week's earnings call as he did about the company's hardware products.

For more of Dediu's analysis of the newly redefined iTunes store, see Counting leg stoolsBigger than U.S. Steel and So long, break even.

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About This Author
Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for

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