I feel like a broken record (pun definitely intended!) because I keep writing these kinds of posts about big record companies doing something asinine. But the stories just seem to keep coming. The most recent "big idea" they have is to demand that iTunes charge more than $0.99 per song.
Last year, the digital music download business netted $1.1 billion. The record companies get around $0.70 per download from iTunes, so last year they collectively netted several hundred millions of dollars. But that isn't enough for them even though they have been bitching about lost revenue for several years.
Just when I thought the major record companies couldn't alienate their customers more, their braintrusts have found a way to outdo themselves. Consumers have just warmed up to the idea of paying for music rather than getting it for free somewhere else on the web. If the record companies force iTunes to increase their fees, they will have purchased the last nail for their collective coffins. When they lose more money because of their greed, who will they sue?
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Chuck Norris doesn't sleep
7 years ago
1 comment:
I've not yet bought music online from the likes of iTunes, but I suspect that I will start at some point in the near future. If the prices go up they'll likely keep me away for a few more years.
The record execs aren't the sharpest tools in the shed. regarding your question of who will be sued when they continue to lose money... simple, they guys still running the file sharing networks. While the numbers trading music illegally will continue to fall the record companys will continue to point their fingers at the few remaining file swappers as the source of their problem.
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