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Buzz Out Loud Lounge: Apple threatens to close down the iTunes store!
Apple threatens to close down the iTunes store!
by Slikkster - 9/30/08 1:16 PMFrom Fortune:
http://money.cnn.com/2008/09/30/technology/itunesthreat.fortune/index.htm?postversion=2008093014
Snippet of article linked above:
"NEW YORK (Fortune) -- For five years, Apple's iTunes Music Store has been the Internet's most successful music store. But as music publishers have sought a higher share of its proceeds, Apple has threatened to shutter iTunes.
The Copyright Royalty Board in Washington, D.C. is expected to rule Thursday on a request by the National Music Publishers' Association to increase royalty rates paid to its members on songs purchased from online music stores like iTunes. The publishers association wants rates raised from 9 cents to 15 cents a track - a 66% hike.
Apple (AAPL, Fortune 500) declined to discuss the board's pending decision or its previous threat to shut down iTunes. But it adamantly opposes the publishers' request. In a statement submitted to the board last year, iTunes vice president Eddy Cue said Apple might close its download store rather than raise its 99 cents a song price or absorb the higher royalty costs.
"If the [iTunes music store] was forced to absorb any increase in the ... royalty rate, the result would be to significantly increase the likelihood of the store operating at a financial loss - which is no alternative at all," Cue wrote. "Apple has repeatedly made it clear that it is in this business to make money, and most likely would not continue to operate [the iTunes music store] if it were no longer possible to do so profitably."
Apple threatens to close down the iTunes store!
by wizkids32 - 9/30/08 2:31 PM In reply to: Apple threatens to close down the iTunes store! by SlikksterDon't think so because I don't think they will be shutting down the apt store at all since a lot of people have iPhone and iPod touches and were would the get the apts from and the podcasts and the Movies and TV show I don't think apple would do that because if they do the shoot themselves in the foot.
Apple not likely to Close Music store, but why not?
by schneider007 - 9/30/08 11:37 PM In reply to: Apple threatens to close down the iTunes store! by wizkids32Apple wouldn't shut down the whole of iTunes. You forget Apple has
several stores in within its store front.
One of which is the Music store.
I suspect the New App store, Video Media like TV, Movies, etc
and Podcast will remain.
It's Greed that's driving this debate, apple is smart to keep the prices low (granted its helping to push iPods)in a practical sense Online Distribution is not strong enough to "stick it to its customers yet"
I'm willing to pay for music as long as its mine and I can listen to it where and when I want too.
The moment they start trying to screw me for a quick buck is the moment I start looking for "FREE" music elsewhere. (do you hear me Music Industry!!) ...I don't think their listening
In the end Apple and the other online music stores have more power,
they can just shut it down. 8% of nothing is still nothing..
Who cares.
by nreddyk - 9/30/08 2:33 PM In reply to: Apple threatens to close down the iTunes store! by SlikksterGood riddance!
Greedy AR$EHOLES!!!!
by robstak - 9/30/08 7:21 PM In reply to: Apple threatens to close down the iTunes store! by Slikksteromg. think of the starving artists!!! its like every day you hear about another band going out of business because digital music ravages their trust funds... KILL ME! ugh.
AGGGHHHH!!!
by The_Noid - 10/1/08 4:31 AM In reply to: Greedy AR$EHOLES!!!! by robstakThese idiots need to be going the OTHER direction. The price point for MP3s really selling is closer to 50cents - not over $1~!!~
If they were smart - they'd take a little less on each song - drop the price point and sell 2x as much. If they raise the prices - they will just lose it all because it will then make file sharing and piracy that much more appealing.
It really isn't that hard to see this (I guess unless you work for a record company) the easier and cheaper it is to purchase legal downloads the MORE PEOPLE WILL BUY LEGAL DOWNLOADS!!!
Good Thinking!
by PressAnyKey - 10/1/08 6:17 AM In reply to: Apple threatens to close down the iTunes store! by SlikksterRaising royalty rates in the middle of the worst economic slump in years! That should stimulate business....
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