Your 99c belong to the RIAA - Steve Jobs

[Mike]

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. Where's your 99 cents per song going?

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.

The Register Linkage

I hope it's not true, but this isn't the only evidence pointing in the direction that it is true.

If the RIAA wasn't making money, they would find a way to try and fight these online services.

[brandon184]

Didn't Apple publish some sort of pie chart at one point in time showing how that $0.99 was so evenly, nicely and pretty fairly distributed among several parties -- including themselves?

[M_Six]

I read once that Apple gets only 9 cents out of every purchase. Not much to go on.

[jkrohn]

I am tired of the RIAA getting all the money. I want to give my money to the artist, not some antiquated congolmerate.

Jkrohn

[Knothead]

BTW, according to today's L.A. Times, those five conglomerates will soon be only three...the reason cited being "widespread piracy and plummeting sales"...

[TheBurningCat]

They annoy me. The moan about it being unfair that there income drops. Then they ( if this is true ) steal someone elses income.


silly riaa!