When Google launched its music service, there was hope that, despite being late to the download party, a real iTunes alternative might finally be in the making. According to financial documents shared as part of the ongoing trail with Oracle, Google themselves projected $1.5 billion by this year. But in reality, Google Music revenues are just a tiny fraction of that hoped for number.
Macquarie analyst Ben Schachter projects that Google Music will actually generate less than $100 million this year, calling music Googe's "biggest miss".
Google knew that Apple was a fierce competitor in music and had a major head start, but at least back in 2010 the company projected that music would contribute $2.4 billion of a total of $3.7 billion in gross Android related revenue in 2013.
Google documents via Digits