At 11:43 AM -0400 5/17/04, Fluxstringer wrote:
Do you concede that they ARE in the business of selling music ? And doing VERY well at it ?
They're _not_ doing well at it:
At an Apple financial analyst conference on Wednesday CEO Steve Jobs admitted that Apple makes no revenue from the online download service, the iTunes Music Store, that he launched in April. As iTMS is the leading download service, with 80 per cent market share (or so Jobs claimed), where's your 99 cents per song going?
Well, although it costs nothing for the record industry pigopolists, this small ragged army, to make a digital version of one of its hoardings available to hear, somebody must pay. It costs Apple real dollars to provide the hosting service that delivers that digital file to you, and to write the sophisticated software that delivers it. Meanwhile, almost all the cash is flowing back to the copyright holders. Who, when you last looked, were a dinosaur oligopoly of five record labels, desperately seeking a way to preserve their copyright cartel into a new century. They were down, and they were out: but Steve Jobs rode to their rescue.
"Most of the money goes to the music companies," admitted Jobs.
"We would like to break even/make a little bit of money but it's not a money maker," he said, candidly.
So now we have it on record: the music store is a loss leader. Jobs said Apple would pay its dues to the RIAA, then seek to make money where it could, from its line of hardware accessories....
<http://www.theregister.com/2003/11/07/your_99c_belong/>
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