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iTunes has peaked, says 7digital executive

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Apple's iTunes has "peaked", according to digital media firm 7digital.

Company CEO Ben Drury claims that Apple's marketshare in the sector is in decline due to the rise of streaming services, TechRadar reports.

"Its market share is around 85% for individual tracks, but it's significantly lower for albums," he explained.

"iTunes' success has always been tied to the iPod's market share, which was very high - almost monopolistically high - but now people consume and acquire music on more devices and this alone is leading to the decrease in iTunes' marketshare."

Drury went on to suggest that Apple will remain market leader for "a long time", but predicted that its share will decrease in 2012 because of the rise of platforms such as Spotify.

"In the UK, we reckon iTunes will see lower market share in 2012 than 2011 - and a lot of that is to do with Spotify," he added. "Spotify is pretty much owning and dominating the music rental market in the UK."

7digital also announced that it has entered an agreement with Microsoft to bring its music services to Windows Phone handsets.

> Adele's 21 becomes first album to sell 1m copies on iTunes in Europe

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