Yes, siree! The Apple iTunes store has sold its billionth song.

The billionth song, ”Speed of Sound,” was purchased as part of Coldplay’s “X&Y” album by Alex Ostrovsky from West Bloomfield, Michigan. As the grand prize winner, he will receive a 20-inch iMac, 10 fifth generation iPods, and a $10,000 Music Card good for any item on the iTunes Music Store. In addition, to commemorate this milestone, Apple will establish a scholarship to the world-renowned Juilliard School in his name.

I wish some corporate psychiatrist from Harvard Business School would write a comprehensive explanation of why the music industry didn’t see the opportunity.