iTunes to Remain Open, Royalty Rates Go Unchanged
October 2, 2008
As of yesterday, the future of iTune's precarious existence seemed in doubt.
The National Music Publisher's Association pushed to raise royalty fees. Apple responded, vowing to shut down iTunes if that happened. And so the fate of the world's largest music distributor came to hang in the balance.
But that was yesterday and today, well, things are different -- the Copyright Royalty Board deciding against an increase in royalty fees earlier this afternoon.
Though Apple had actually called for a lowering of royalty fees, currently at 9.1 cents per song, the lack of change should allow iTunes to remain alive (and profitable).
Seeing Apple's stock plummet as of late, the good news is surely much welcomed by Jobs & Co.