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Make Money Online? Go For iTunes Not Ads
The top digital media companies increased their revenues by more than 20 percent in 2008.
How? Well, it wasn’t online ads.
Instead, it was largely thanks to a pay-for-media approach, according to new research from Strategy Analytics.
Leading the way in this field was Apple, with the “Other Music Related Products and Services” area of its business, which includes iTunes.
Apple saw its revenue grow 32.7 percent last year in this category, according to the data. That’s impressive, and it’s no doubt thanks in large part to its App Store, which launched last July.
That model is leading analysts to suggest that the pay-for-media model will become an area of focus for a lot of these companies in the years ahead while the world battles economic troubles.
The thought is that this model is a much more attractive one than advertising, which continues to slow down.
Photo by iTunes.
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Everyday Entrepreneurship on March 26th, 2009 6:00 pm
Interesting post, Dane. Although, I’m not surprised. I’ve noticed that ad-based revenue models are becoming dated as start-ups are gravitating towards more premium subscription models. So to see this happen in media like iTunes is probably a result of that trend.
The blog looks good, by the way. I’d love to get your feedback about mine, too.
Regards,
Jacob Webb
GoEverywhere Team on March 26th, 2009 7:51 pm
That’s some very relevant information for all people working to make some money online…not just the big dogs.
Makes a lot of sense to really offer something of value on your site, as opposed to just some largely irrelevant ads directing them to who-knows-what.
There are many businesses that could tap into the music passion and take it all the way to the bank.
Jaclyn on March 27th, 2009 8:04 am
I agree…too many sites now a day’s have a bunch of ads that direct the site lookers to usually anything but what they are interested in and that serves no true purpose for them personally. I think it is better to offer ads on your site that truly speak to your viewers and serve them a purpose, you will not only get more traffic this way but increase your volume and sales in turn.
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