Steve Jobs famously lured Pepsi president John Sculley to join Apple as its CEO 21 years ago by taunting him: "Do you want to spend the rest of your life selling sugared water, or do you want a chance to change the world?" Others have noted the irony in Apple's promotional deal with Pepsi, in which certain Pepsi products contained a code that gives sugar-water swillers a free iTunes download.
But here's the real irony: Selling sugar water is trickier than Jobs assumed. In announcing the deal last October, Jobs set a goal of selling 100 million iTunes songs by the first anniversary of the iTunes Music Store in April. So far, Apple's only sold 50 million, so it looks likely that they'll miss that goal by a good 25 million to 30 million songs. The problem is that the Pepsi iTunes giveaway isn't leading to as many additional purchases as either Apple or Pepsi had hoped.