Apple Wins- iTunes lives on

[MrAngryFace]

http://money.cnn.com/2008/10/02/technology/ituneswins.fortune/index.htm?postversion=2008100218

NEW YORK (Fortune) -- It looks like Apple won't be closing the iTunes store because of a dispute with music publishers over royalties on downloaded songs.

The Copyright Royalty Board in Washington, D.C., today declined a request by the National Music Publishers Association to increase royalties from 9 cents to 15 cents on songs purchased from online music stores like iTunes.

Apple adamantly opposed the proposed 66% increase and threatened to shutter iTunes if it was approved. In a statement submitted to the board last year, iTunes vice president Eddy Cue said Apple didn't want to raise its 99 cents a song price or absorb the higher royalty costs itself.

Cue's statement was first reported by Fortune on Tuesday. PricewaterhouseCoopers estimates that Apple (AAPLE) only makes about 10 cents a song in profit.

Apple spokesman Tom Neumayr said the company was happy with the ruling. "We're pleased with the CRB's decision to keep royalty rates stable," he said.

LOL CRY MORE RECORD EXECS

Not all good news for Apple today:

NEW YORK (CNNMoney.com) -- Apple shares fell sharply Friday morning after an erroneous Web report saying founder and CEO Steve Jobs had suffered a heart attack. Shares quickly recovered after it became clear the rumor was not true.

The posting, made on iReport, a user-generated content site run by CNN, said, "Jobs was rushed to the ER just a few hours ago after suffering a major heart attack," according to Silicon Alley Insider, a blog that took a screen shot of the posting.

Apple's stock fell 10% in 10 minutes, then recovered to trade flat most of the session before closing 3% lower

[chronovore]

Cry more, indeed. Did anyone else here see that article about how record companies want MORE money from games like Guitar Hero and Rock Band? They want to be "partners" because the only thing that makes the game compelling is "their" content.

Cry, bitches!

[DJ_Tet]

Cry more, indeed. Did anyone else here see that article about how record companies want MORE money from games like Guitar Hero and Rock Band? They want to be "partners" because the only thing that makes the game compelling is "their" content.

Cry, bitches!

I saw that.  It's hilarious how record companies finally find a new revenue stream and can't wait to shut it down with their greed.  They never learn.

[TVC15]

Cry more, indeed. Did anyone else here see that article about how record companies want MORE money from games like Guitar Hero and Rock Band? They want to be "partners" because the only thing that makes the game compelling is "their" content.

Cry, bitches!

I saw that.  It's hilarious how record companies finally find a new revenue stream and can't wait to shut it down with their greed.  They never learn.

What I find interesting is that the the minds behind the music industry are basically as distinguished mentally-challenged as the teenagers and young adults that fuel the business.  I don't mean to defend the wretched MPAA here, but at least they have been a bit better in the logical defense of their IP.  The RIAA is burning bridges and not being political at all.

Music is for the young.  Is their some sociological effect at work here? The minds behind a "young" industry are making illogical mistakes, the sort that would be explainable by actual youth.  Does the music industry attract fiscal distinguished mentally-challenged fellows because distinguished mentally-challenged fellows are the audience that the product is aimed at?

[huckleberry]

The music industry must be getting hit awful damn hard to be this brazen.  They have effectively alienated everyone.....hell, my god-fearing step father actually asked me to download music for him.  If people like him don't care, then no one does.