How's Amazon's iTunes Killer Doing? (AAPL, AMZN)

In September, following years of buildup, Amazon finally launched its own digital music store. Amazon’s online clout and savvy, coupled with the fact that the store would only sell DRM-free, MP3s, made us conclude that the AMZN might be the first ones to give Apple’s iTunes a run for its money.

So how’s it doing? There’s aren’t any publicly available numbers to evaluate. But last month Billboard estimated that Amazon had already captured 3% of the U.S. download market. And our gut is that their momentum may be increasing.

We’ve heard anecdotally from music fans who say they’ve shifted from AAPL’s iTunes to Amazon — even though the new store only has two of the four major labels signed on. And it’s not just music snobs or anti-DRM fanatics: A quick snapshot of both stores’ top-seller lists seems to indicate that both are reaching similar, mainstream audiences — both iTunes and Amazon buyers, for instance, like Fergie. iTunes’ top 10 is on the left; Amazon’s top sellers on the right.

We are personally plenty happy with iTunes — the stuff we buy works on our iPods, and that’s all we care about. Have you switched to Amazon? Sticking with iTunes? Let us know in comments below.

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