The iTunes video store is a strange market to track. Most of Apple's attention and press these days is going to the App Store, and obviously iTunes wouldn't exist without the music store. But the video store, where you can buy and rent movies and TV shows, is sort of the quiet third pillar of Apple's digital retail service. And Horace Dediu of Asymco has posted that it's doing big numbers indeed. After Apple announced new numbers for both TV show and movie downloads (1 billion and 380 million, respectively), Dediu crunched the numbers, and determined that the rate of spending on iTunes video is about US$1.75 billion per year.
That's sizable for sure, though as you can see in Dediu's chart above, video still only makes up a small piece of the amount of money traveling through the various iTunes stores. Dediu also says the picture of what users are spending on iTunes is becoming more clear. He estimates that users spend the most every year on apps, about $16 a year. Furthermore, $12 a year is spent on music, per user, and $9 a year is spent on software (on the Mac App Store or elsewhere). Then, about $2 a year is spent on books, and $4 a year is spent on video. So iTunes video definitely isn't the biggest store that Apple is running, but it does make up a fairly sizable piece of the entire pie.