Apple Expo: Apple CEO Steve Jobs slams “greedy” labels
Speaking to the press this morning Apple CEO Steve Jobs slammed some music labels, calling them “greedy”.
Recent reports have revealed some labels have been attempting to force Apple to change the prices it charges on iTunes. And one label wants higher prices, confirmed Jobs. And Jobs is putting up a fight.
“The problem is we are still competing with piracy,” he said.
“The labels make more money from selling tracks on iTunes than when they sell a CD. There are no marketing costs for them. We are competing with piracy, so it needs to be a fair price: If the price goes up people will go back to piracy,” he warned.
With iTunes seeing “about 75 per cent” of its song catalogue – including back catalogue items – selling at least once a month, money must be rolling in for copyright holders.
On raising prices an emphatic Jobs said: “If they want to raise prices they are getting greedy”.