TimesOnline (UK) reports that if efforts by the (US) National Music Publishers Association to increase its take on digital music sales from 9¢ to 15¢ per song sold has Apple threatening it will shutter iTunes.
"If [iTunes] 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," says iTunes vice president Eddy Cue. "Apple has repeatedly made it clear that it is in this business to make money, and most likely would not continue to operate [iTunes] if it were no longer possible to do so profitably."
The US Copyright Royalty Board (CRB) in Washington DC will decide whether to grant the request of American music publishers to increase royalty rates on songs purchased online.
Editor's note: Whether we're talking the RIAA, Sound Exchange or the music publishers, their endless manipulations and machinations warrant a harsh response from Apple. Honestly, if they wish to commit suicide, then why shouldn't they be allowed to?
I've not seen Apple's business plan, but I doubt it includes anything about repeatedly saving the music industry from itself...
What's your take?
- BassJump Subwoofer gets update for Mavericks
- Video: Shinola Premium Leather iPhone 5/5s case
- Honda announces further integration with iPhones
- Apple acquires Topsy Labs
- A look at some 4K monitor options
- Rockstar bringing Grand Theft Auto: San Andreas to iOS
- GLIF iPhone mount get update to be adjustable
- Honda rolling out Siri Eye Free on selection 2014 vehicles
- ScreenFlow 4.5 now available with Mavericks support
- Apple announces Black Friday sales
- iPhone 5s now available unlocked from Apple
- Apple buys 3D sensor company
- Podcast: Power outage, bad phone carriers, PS4, CoD, plus more
- Fifty Three announces Pencil Stylus
- OWC adds USB 3.0 to Mercury Elite Pro Qx2 enclosures
- MOGA Ace Power iOS game controller
- Sprint offers free 12 month smartphone service for students
- Find My Friends app get iOS 7 treatment
- PBS, Yahoo Screen comes to Apple TV
- Podcast: Episode 100, iPad mini, iPhone case is crappy or not? Everpix, plus more
- My iPhone Home Page AppsVideo:
- Video: Apple Leather iPhone 5/5S Case (Product RED)
- Philips announces Hue BR30 bulbs recessed lighting
- Twelve South announces BookBook Travel Journal
- Everpix shuts down
Browse and search for more articles