Apple woos independent labels | iLounge News


Apple woos independent labels

Yesterday Apple gathered independent record labels for a meeting to explain how they could participate in the iTunes Music Store. Derek Siver, President of CD Baby was at the meeting and has posted key points from the presentation by Steve Jobs. A few points from the meeting:

  • Everyone is going to get the exact same deal. It’s not negotiable. It’s take it or leave it.”
  • This is a reseller agreement: Apple buys at a wholesale price. Apple resells them to users. “No complicated or messy licenses.”
  • Apple only deals with the partner/label. It’s up to the label to pay the artists, writers, publishing, etc.
  • Rights are a 3 year term. For iTunes only, of course. This is totally non-exclusive.

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FYI - the original source for these details has pulled them due to a confidentiality clause…

Posted by Dennis Lloyd in Irvine, CA on June 7, 2003 at 1:12 AM (CDT)

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