Apple Thinks an MP3 is Worth $1.29
You may have already noticed that iTunes has upped the ante by raising MP3 prices to $1.29 apiece, which became just another reason why I am a (generally) happy Rhapsody subscriber. Back in January Apple Inc announced that it would no longer be offering all MP3s at the low low price of 99 cents, but would instead be offering three tiers of music files priced respectively at 69 cents, 99 cents, and $1.29.
Apparently most MP3s are worth the highest possible amount – which may just be because record companies are allowed to select their artists’ price tier.
Customers can, however, pick up 69 cent tracks that they probably already have – such novelties as the Clash’s “London Calling,” and George Michael’s “Monkey.”
The good news, though, is that DRM is gone (which is that pesky copyright protection technology that won’t let you put the files you buy – anywhere). Now songs can be filed on just about any device that supports the AAC encoding Apple incorporates into its audio files (AAC being a compression method used for large files that simultaneously preserves sound quality).
iTunes/Apple is always patting itself on the back for being the innovator in the digital music industry – but files were never even worth the 99 cents we’ve been paying for them. Remember when CDs came out and the industry promised lower prices because of cheaper production rates? Only prices were just the opposite of cheaper, and the trend continues today.
The problem that the record labels have is that they do not have the know-how to create a proper rival to iTunes. Then they’d have the whole industry sewn up again.
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