Amazon makes record profits and plans MP3 store

Apr 25, 2007 | Uncategorized

Amazon’s first quarter profits more than doubled from $51m (£25.78m) in Q1 2006 to $111m (£56.10m) in Q1 this year writes ENN. Revenues rose 32% during the same period to reach $3.02bn (£1.53bn) . Sales in North America rose 30% (to $1.62bn (£8.82bn)) while Amazon’s international outlets grew 35% (to $1.39bn (£700m)). The news was […]

Amazon’s first quarter profits more than doubled from $51m (£25.78m) in Q1 2006 to $111m (£56.10m) in Q1 this year writes ENN. Revenues rose 32% during the same period to reach $3.02bn (£1.53bn) . Sales in North America rose 30% (to $1.62bn (£8.82bn)) while Amazon’s international outlets grew 35% (to $1.39bn (£700m)).
The news was followed by reports that Amazon is intending to enter the digital music download market. Amazon is apparently interested in selling DRM-free tracks and has been encouraged by EMI’s decision to sell tracks without restrictions. The firm is said to have started talks with major labels.
Figures from Strategy Analytics predict that the global online music market will grow 62% in 2007, to reach $2.7bn (£1.36bn). This is forecast to increase to over $6.6bn (£3.34bn) by 2011.
From ENN: http://www.electricnews.net, 25/04/2007
Amazon UK: http://www.amazon.co.uk

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