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The popular iTunes has been one of the best audio players on the market. However, its vast music store now gives holders of the video iPod the opportunity to preview and download music videos, TV programmes and now full movies, all at very reasonable prices.
If you want to share your music, iTunes will look for other copies running across a network and you can then listen to other people's music. An Internet radio option is available for broadband users.
Video support comes in the form of an embedded QuickTime player, which supports all the video formats that QuickTime supports (AVI, MPEG, Flash etc.). Note that QuickTime is included within the iTunes installer.
Audio can be encoded in the Apple Lossless format, which lets you import music into iTunes at half the original size, with no loss of quality. Podcast support is included so you can subscribe to podcasts from within iTunes and have them automatically synced to your iPod.
iTunes 11.1 is a minor upgrade and adds new features such as iTunes Radio (US Only) which can be used ad-free once subscribing to iTunes Match.
Another handy feature is you can now create custom stations of your favorite podcasts that update automatically with new episodes. Your stations, subscriptions, and current play position sync over iCloud to the Podcasts app.
Finally, you can now use iTunes to sync your favorite music, movies, and more to devices with iOS 7.
Note that this is the Mac version of iTunes.