Alex Ostrovsky from West Bloomfield, Michigan purchased the 1 billionth song when he bought Speed of Sound by Coldplay. As the grand prize winner he will receive a 20-inch iMac, 10 fifth generation 60GB iPods and a $10,000 gift card good for any item on the iTunes Music Store. In addition, Apple will establish a scholarship to the world-renowned Juilliard School of Music in his name to commemorate this milestone.
The iTunes Music Store has posted the following statement as well:
I hope that every customer, artist and music company executive takes a moment today to reflect on what we’ve achieved together during the past three years,


