November 07, 2003
Apple Makes no Money from its Online Music Store - Steve Jobs

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?

Running counter to several thousand years of basic human observation, Apple decided it could afford to control those points where we share music. It developed an opportunistic business with such compromises built in: a plan is to infect as many computers it could with restrictive DRM technology to allow us to rights we once took for granted. But why, you ask, is Apple helping an extinct, and unworthy industry back on its feet? Precisely why does this strike you as greedy, desperate and gasping? Let us explain.

Posted by tstubbs at November 07, 2003 12:31 PM
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