iTunes sells $1 million in movies in first week

To be honest, I didn’t believe that the whole consumers paying to download movies thing would work. Apparently I’ve been proved wrong. Disney chief executive Robert Iger reported yesterday that in the first week of selling movies on iTunes, the company generated $1 million in revenue. Now I wonder what share Apple and Disney each get out of the pie? I guess it doesn’t really matter since Steve Jobs practically owns both of them.

Iger said that Disney expects to make around $50 million in revenue this year from its iTunes partnership. So far, Disney is the only studio selling films on iTunes, but other are expected to hop on soon.

Read [Yahoo News] Via [TechCrunch]