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Regular Member
Posts: 37
Registered: ‎10-02-2008

No More iTunes Store?

I read an article on HipHopDX.com that Apple may be forced to give up a larger percentage of their iTunes Store sales to higher up music companies/corporations, which would force Apple to raise their current prices in order to still be a profitable company. Apple has threatened that they would shut down the iTunes Store before raising the prices for their customers. So this will be interesting to keep an eye on to see what happens. I hope the iTunes Store is not closed, and I know Apple doesn't want to close it either because I'm sure they make a lot of money from the store. If anyone hears or see's any updates on this, please reply with the information because I would like to know what's going on if I miss the news about it!
Trusted Member
Posts: 148
Registered: ‎10-26-2008

Re: No More iTunes Store?

the music companies get more than enough, and if iTunes shuts the store down they will lose far more than they gain by raising prices.   iTunes (apple)  gets a very very small cut.
Posts: 8,547
Topics: 232
Kudos: 154
Blog Posts: 89
Solutions: 422
Registered: ‎09-29-2008

Re: No More iTunes Store?

Hey Phil,

 

Believe it or not, there was a resolution to this issue roughly 24 hours after this story was first mentioned by a good number of news outlets.  I'm still rather surprised though that the follow-up story wasn't given nearly as much attention as the initial "knee-jerk reaction" made by the press.

 

Based on information that I've found, it looks as though the federal Copyright Royalty Board froze the royalty fee due to songwriters at 9.1 cents per song for the next five years.  Neither party involved (Apple or the Recording Industry Association of America) appears to have been overly pleased with the decision, but spokespeople from both sides seem to have admitted that the ruling should prove to be beneficial.  A good compromise means that no one involved gets everything that they want, I guess.

 

If you'd like to read more on this story, you should be able to find the official Associated Press article by searching for "Copyright board leaves royalty rate unchanged."

 

Hope this helps you out!

 

Agent Aaron

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