Apple to drop all iTunes Plus tracks to $0.99

Apple CEO Steve Jobs has told the The Wall Street Journal that Apple plans to reduce its pricing on all DRM-free iTunes Plus downloads by $.30 either later today or tomorrow.

This move would make all iTunes Plus tracks $0.99, down from the previous price of $1.29 per song, and in line with the pricing of rival offerings from Amazon MP3 and Wal-Mart.

Speaking about the DRM-free tracks, Jobs said “It’s been very popular with our customers, and we’re making it even more affordable.” Earlier this week, iTunes Plus tracks from independent labels began appearing on the iTunes Store at the reduced $0.99 price.