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Apple is reporting that its iTunes music store has now registered over 5 billion downloaded songs from the online music store. Recently crowned as the number one music store by market research firm NPD Group’s MusicWatch. In addition to having sold over 5 billion songs, the online music store is also reporting that around 50,000 movies are being downloaded from its sites everyday. Suffice it to say that iTunes is now also the world’s most popular online movie store.

We are not surprised at all with this report. The iTunes Store is the official source of music for iPod and iPhone owners, two of the most sought after portable media players in the world market today. What is surprising with this report is the fact that, as of today, there are still other regions which are not covered by the iTunes Store. This means iPhone and iPod users in these regions still can’t purchase music and videos from iTunes, despite the fact that both devices are officially available in their region.

If iTunes could penetrate these countries it currently doesn’t cover, that 5 billion downloads mark would have been achieved a little bit earlier than today. Still, the iPhone 3G is slated for release on July 11th, and we expect that figure to shoot up further as more countries get the official distribution of the iPhone 3G.

Read [Apple News]