Did you know that Apple Threatens to Shut Down iTunes

Musicians and their labels want Apple to increase the amount they make per digital music download. Apple says they would rather shut down iTunes music store. They are turning down a request for an increase of six more cents per song for music publishers and songwriters.
Apple has insisted on keeping the price at 99 cents per download arguing that any price increase above that will make them unprofitable. The Copyright Royalty Board is scheduled to decide on the proposal by a three-person board appointed by the Librarian of Congress by Thursday. Music publishers want their cut to go from 9 cents to 15 cents per song - a 66 percent increase.
Digital downloads have been at the same rate for 12 years and at the the same rate as the sale of physical albums. The board will also raise royalties on physical albums and ringtones, “for the next five years.” I don’t know if that means in five years they will raise the rates higher.
Wired quotes Apple’s iTunes vice president Eddy Cue as saying:
“Apple has repeatedly made it clear that it is in this business to make money, and most likely would not continue to operate [the iTunes music store] if it were no longer possible to do so profitably.” more