Yeah I almost feel sorry for the record companies
Wednesday, May 3rd, 2006That’s how this article on the latest legal and business trevails of the record labels begins. They just can’t seem to get a break. Even now that they’ve gotten hip to online distribution and sold over 1 billion tracks through iTunes, there’s another prosecutor exploring price fixing charges.
And now that Steve Jobs and Apple got their way by keeping the flat $.99 per track pricing, the record companies have lost online pricing power.
I don’t mean to gloat, nor do I think Apple and iTunes are perfect, but it’s nice to see how market and legal forces can affect even the most arrogant companies.