Analyst Predicts iTunes Revenue At $13 Billion in 2013

Apple’s iTunes platform is expected to rake in $13 billion in revenue in 2013, it has been predicted.

According to a report released by market research firm Global Equities, the iTunes platform, which offers music, movies, eBooks and apps, will contribute $13 billion to Apple’s revenue in 2013, rising at a rate of 39 percent next year.

According to an article on The Next Web, the research claims that book publishers and users alike are adopting iBooks platform over Amazon’s Kindle.

“Our research with students indicates that they would rather have books on iPad vs. Kindle. In terms of usability of iBook vs. Kindle application on iPad - on a scale of 10, iBook is probably 8 and kindle application on iPad is probably 5 - "Kindle application lacks the finish and crispness of an iBook" was the converged view we gathered,” analyst Trip Chowdhry wrote in a note to clients.

The high level of adoption of the iPad and the iPhone has also boosted the revenue from the App Store.

The analyst said that it expects Apple to post revenue of $24.80 billion, an increase of 58 percent over last year, and earnings of $5.81 a share, a rise of 65 percent from the same period last year, in the third quarter.