Oct 1 2008Apple Threatens To Close iTunes Store
Apple is threatening to close the iTunes store over a possible royalty hike.
The National Music Publishers' Association, which represents the interests of music makers and songwriters in the U.S., wants rates to be increased 9 cents to 15 cents, which represents a 66 percent rise.
"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," iTunes vice president Eddy Cue said.
ZOMG, I'm gonna have to start downloading music illegally again.
Thanks to Bryan, who once downloaded a song illegally but then felt bad about it and gave a streetcorner musician a dollar.