iTunes Becomes Third-Largest U.S. Music Retailer

Has there been any question that digital music and the Internet represent the future of the music industry? According to the market research firm NPD Group, Apple Inc.'s iTunes online store just became the third-largest music retailer in the United States based on units sold. ITunes now sells more music than giants Amazon.com and Target Corp.

The NPD survey shows that iTunes had a 9.8 percent market share in the first quarter, behind leader Wal-Mart's 15.8 percent share and Best Buy's 13.8 percent. Online retailer Amazon.com's share was 6.7 percent, followed by Target's 6.6 percent.