According to an analyst, Apple's fourth largest business is iTunes. Horace Dediu from Asymco says that the $13.5 billion in revenue generated by iTunes last year is enough to make it one of Apple's main focuses. According to Dediu, iTunes revenues have been rising "steadily and rapidly."
iTunes has apparently managed to have an average growth rate of 30 percent over the past two years. Due to Apple's Mac and iPod businesses shrinking, Dediu predicts that iTunes could soon become Apple's third largest business. Whether or not this negates the RIAA's argument that pirating is bad, it can be shown that digital sales are certainly growing despite pirates.
"Indeed, if seen in isolation, iTunes plus Accessories combined is a bigger business in terms of revenues than any of the other phone vendors except Samsung," Dediu said.