Apple woos independent labels

Updated
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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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Dennis Lloyd

I'm a passionate, long-time lover of Apple products, and was a civil draftsman and graphic designer before creating the iLounge web site. My prior projects include work for The Los Angeles Times' LATimes.com, and the company Creative Domain, where I developed websites for clients including Columbia Pictures, Disney, Fox Studios, Universal Pictures and Warner Brothers. As the Publisher of iLounge, I direct the site's community forums, photo galleries, iPod User Group, and general business affairs, which have grown under my watch to over sixteen million page views every month. I'm happily married with one daughter, one dog (Rocket the Wonderdog), one cat (Ferris), many iPods, iPhones, iPads, and two turntables.