Apple to Close iTunes Store. Yeah… Right!
Apple’s business strategy for many of it’s products is based around the iTunes store. So why would they threaten to close it? Well, right now, Apple is paying 9 cents per downloaded song to the artists, they want 15 cents.
The Copyright Royalty Board in Washington, D.C., is scheduled to rule today on a request from the National Music Publishers’ Association to increase royalty rates paid to its members on songs purchased from online music stores like iTunes.
Apple says that they might be forced to close they iTunes store if the fees go up because they might not be profitable anymore.