Steve Jobs pissed at RIAA’s greed

Steve Jobs, CEO of Apple, is angered by the music corporations wanting to raise prices on downloaded music. Apparently music industry executives feel that the sixty-five cents for every dollar is just not enough.
iTunes accounts for 65% of the downloaded music. Last year, downloaded music accounted for $300 million in sales and three times sales margins in 2003.

Engadget
< Money


Personal note: Yes, raising music prices for downloaded music is going to help fight piracy. Obviously these music executives have had their brains lined with some bling-bling. The reason iTunes succeeded where others failed was because of the 99 cents per song deal. After iTunes’s success, every other download service tried to imitate, including Napster. RIAA needs to open their eyes and realize that the only way to fight piracy is to go with quantity (like Walmart) and drop pricing further. There will always be shoplifters. The real fight is how you try to win the rest of the world.