Piper Jaffray: iTunes sales exceeding expectations
In a research note released to clients on Wednesday, Piper Jaffray & Co. Senior Research Analyst Gene Munster said that iTunes sales have already exceeded estimates for Apple's March quarter at 85 million tracks, with nearly a full month left in the quarter. He says that iTunes sales could account for $83.2 million in revenue in the March quarter--or about $35 million more than his firm has been estimating. The analyst said his research indicates that iTunes could 'begin to have a notable impact' over the next two calendar years. Specifically, Munster believes that iTunes may add an additional 3% to his firms revenue estimates for 2006. He further noted that the average iTunes daily run rate (sales) during the quarter has been 1.35 million, primarily in-line with the 1.43 million daily run rate in the weeks following the holidays. "We had been anticipating a more significant drop off in iTunes sales," Munster wrote in his report. Piper Jaffray maintained its 'outperform' rating on Apple with a price target of $50.
Comments
Originally posted by Crusader
W00t. I do note that in hitting the 300 million mark, the average # of songs sold per day dropped a bit. Here's to hoping that this is only temporary.
Eh? When hitting the 250 million mark in January, the daily average was at 1.25 million; now it's close to 1.5 million.
that's pretty cool my friends...
lets do the math as napster asks, lets assume 1,000,000 songs sold per 24hour period, that's almost 12 songs every second being sold
Originally posted by Chucker
Eh? When hitting the 250 million mark in January, the daily average was at 1.25 million; now it's close to 1.5 million.
Performance actually peaked between 230 million and 250 million at around 1.428 million/day, although the 200-250 milestone was achieved at a lower average (1.282 million/day).
So whilst the sales rate has increased for this 50 million (1.351 million/day) compared to the last 50 million, there has been a slight, statistically insignificant, dip of around 77,000 tracks/day.
Nevertheless, iTMS is currently on track for the following milestones: -
6th April: 350 million tracks downloaded
26th April (iTMS' second anniversary): around 385 million.
8th July: 500 million
30 September: 650 million
30 December: 850 million
28 February 2006: 1 billion tracks downloaded
Apple should achieve a sales rate of 2 million tracks/day in the period between 27/09 and 22/10, and will probably ship around 630 million tracks during calendar 2005, which will probably equate to around 1.75% of the global music market, which isn't too shabby for a store that will have been in existence for only 32 months.
Originally posted by Mark- Card Carrying FanaticRealist
Performance actually peaked between 230 million and 250 million at around 1.428 million/day, although the 200-250 milestone was achieved at a lower average (1.282 million/day).
So whilst the sales rate has increased for this 50 million (1.351 million/day) compared to the last 50 million, there has been a slight, statistically insignificant, dip of around 77,000 tracks/day.
Nevertheless, iTMS is currently on track for the following milestones: -
6th April: 350 million tracks downloaded
26th April (iTMS' second anniversary): around 385 million.
8th July: 500 million
30 September: 650 million
30 December: 850 million
28 February 2006: 1 billion tracks downloaded
Apple should achieve a sales rate of 2 million tracks/day in the period between 27/09 and 22/10, and will probably ship around 630 million tracks during calendar 2005, which will probably equate to around 1.75% of the global music market, which isn't too shabby for a store that will have been in existence for only 32 months.
so i guess napster didn't want you to do the math huh?
good stuff... mark, be sure to post back here as and when iTMS releases data so we fans and fanatics can compare how the estimates are going... 1 billion tracks by MacWorld SF 2006 will be sweet... big party then huh..!?!! YEAH!!!