Apple Insider is reporting that iTunes is adding 500,000 new accounts each day according to Appleinsider
This week, Apple CEO Tim Cook announced that iTunes now has 575 million users equating to an average of a half million new accounts per day. At current rates, the company will add 100 million accounts by the end of 2013.
This puts Apple second only to Facebook in total number of user accounts and while Facebook may have nearly two times as many users as iTunes, Apple is growing faster. In 2012, the iTunes account base grew about 55 percent. Interestingly, Pandora grew its user base by 39 percent while Facebook came in third at 25 percent.
Quantity looks good as a headline but does nothing for revenue. Investors looking for signs of life in Apple aren’t interested in how many accounts the company can set up unless those accounts are making money.
The good news for Apple yet bad news for Facebook is that although Apple isn’t close to winning the quantity battle, it’s crushing the competition in quality(clic). Apple generates an average of $329 per account while Facebook generates only $5. Amazon is a close second with $305 per user.