- Apr 12, 2001
ThinkSecret claims to have some details surrounding Apple's negotiations with Australian record labels and the iTunes Music Store.
According to the rumor site, Apple is paying AU$.99 for every single that sells for AU$1.69. Apple leaves itself the option to raise customer prices at any time after giving 5 days notice to the labels. Album pricing and reimbursement appears to be more variable.
Apple ensures that all tracks can be sold separately as well as part of albums with the exception of certain exclusive and limited time promotions. This along with variable song pricing has been at issue between Apple and music labels.
Apple also promises to respond in a timely manner to circumvention of the Digital Rights Management in the iTunes store.
Apple's agreements with U.S. music labels will expire in early 2006 according to earlier reports.