Apple threatens to shut down iTunes

October 2, 2008

Apple has made an announcement that they will close it’s popular and highly successful iTunes music store if royalties for tracks downloaded from the store are increased.  The current rate of 9 cents per song is being reviewed by the Copyright Royalty Board and could be increased to as much as 15 cents per song.  Apple has stated that they are against raising their .99 cent per song model and will shut the store down instead of raising prices.  of course such a move would leave millions of iPod and iPhone owners without a music source so the odds of Apple following through with the threat is probably very slim.

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