Apple Threatens To Close ITunes Store

Posted: Oct 2 2008, 7:07am CDT | by , Updated: Aug 11 2010, 10:49am CDT, in News | Portable Devices

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Apple has said that it will shut down its iTunes store if a planned increase in online music royalty payments continues. I call BS on this right off the bat. Apple sells so much music from its store shutting it down over a bit less profit would be insane.

According to TechRadar musicians currently get 9 cents from every digital track sold. If the changes go into effect the cost would increase to 15 cents per track.

This is viewed as simply an attempt by Apple to hold customers ransom and get the music industry to play its game. Steve Jobs may be channeling a bit of Microsoft mojo on this one.

Via TechRadar

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
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