Apple's iTunes music sales down more than 13%: Report

Apple iTunes
Lionel Bonaventure | AFP | Getty Images

Global sales for digital music on Apple's iTunes Store is down more than 13 percent this year, a source familiar with the matter told Dow Jones on Friday. The tumble in music sales accelerates the decline in paid downloads.

The steep decline in music downloads increases the urgency to push for more subscriptions, reported Dow Jones.

Shares of Apple are up about 30 percent this year.

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In comparison, revenue from downloads last year dropped 2.1 percent, finds the International Federation of the Phonographic Industry—but the decline was countered by revenue boosts from subscription streaming services that are supported by ads.

Earlier this year, Apple acquired Beats Music, a subscription streaming service, as a part of its acquisition of Beats Electronics.

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