The best part about iTunes is that Apple generates revenue from its 435 million accounts and not from the sale of apps and music. Because the annual growth rate of iTunes is 35 percent, a remarkable rate, it allows Apple to ask for stipulation from the media companies thereby putting it in the position of power.
If iTunes kept on growing with the same rate, observers believe that it will beat other industry giants, including Viacom Inc. in terms of revenue till 2014 ($14.9 billion in 2011).
To be fair, Apple’s iTunes division is still fairly small compared to companies like News Corp., which generated $33.88 billion in sales for 2012, or Disney, who made $42.28 billion in sales. But still, for a company that is focused so much on creating innovative hardware, Apple has created one of the biggest media empires in the world as a mere side project, which makes it even harder for companies like Google, Samsung and Microsoft to compete with them.