iTunes Royalties
Apple is threatening to shut down iTunes if the amount of royalties that they must pay is increased. American music publishers want rates to rise from 9 cents to 15 cents per downloded track, a 66% hike.
If this is passed by the Copyright Royalty Board in Washington DC, iTunes will shut down. This is the largest online music store in the world, and if this shuts down where will all those people who are buying their songs go? Almost certainly to illegal download sites.
The music industry is trying to get their claws into the download market and leech it of life. If they charge lots in royalties, people will not buy them, but download them illegally.
Music companies appear to have no understanding of the modern world, and are stuck with an out-moded view of the world. If they push this through, they will lose out in the end.
Due to a variety of reasons, in the past week I’ve not had to chance to glance at a newspaper (Well, slight lie, I read a few pages of The Daily Mail yesterday, but I doubt that counts anyway), read an article on a news website, or watch a news bulletin. Nor am I likely to get chance to do so today.
