EMI expects Apple to hike prices on iTunes within a year
Record label EMI Group expects Apple to raise the price of popular songs and cut prices of less popular tracks on the iTunes Music Store within a year. The Wall Street Journal reports [paid sub. req.] that EMI Music CEO Alain Levy had discussed the issue with Apple CEO Steve Jobs and believes Apple will end its single 99-cent pricing.
“We are having discussions which make us believe it will happen in the next 12 months,” Levy reportedly said at a press conference in London for the company’s half-year profit results. “There is a common understanding that we will have to come to a variable pricing structure. The issue is when. There is a case for superstars to have a higher price.”
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