LimeWire to be shut down—Apple the main beneficiary
When it rains it pours!
A US federal judge granted the music industry’s request to shut down LimeWire Tuesday:
“To be sure, the vast majority of LimeWire users will likely find other means of obtaining music without paying. There are sure to be beneficiaries of the news, however, and Benzinga has highlighted three below:
Apple’s (AAPL) iTunes software is clearly the (legal) consumer favorite for music playing, downloading, and syncing with mobile devices, like the iPod. The company has generated enormous revenues from music downloads, of which it collects a percentage of every sale. While it would certainly take time for the number of iTunes downloads to increase because of a LimeWire shutdown, the impact on Apple’s earnings over the long-term could be material.”