Doom looms for iTunes?
1st Oct 2008 | 16:10
An attempt by the National Music Publishers' Association in the US to increase the royalties paid from iTunes could result in the online store’s closure.
According to iTunes vice president Eddy Cue the potential 66% increase in royalties from 9 cents to 15 cents a track could “significantly increase the likelihood of the store operating at a financial loss”. Though the store helps drive sales of Apple’s iPod portable media players and has sales figures in the billions, Apple's profit from it remains slim.
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